The Dollar Franc USD/CHF currency pair ends the trading week near the level of 0.8953. The pair continues to move within the correction. Moving averages indicate a bearish trend. Prices moved down from the area between the signal lines, which indicates pressure from sellers of the US currency and the potential continuation of the fall of the instrument. At the moment, we should expect an attempt to correct the price and test the support area near the level of 0.8925. Next, a rebound and an attempt to continue the rise of the pair with a potential target above the level of 0.9395.
An additional signal in favor of the rise of the Dollar-Franc currency pair will be a test of the trend line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the USD/CHF growth option will be a fall and a breakdown of the 0.8755 area. This will indicate the breakdown of the support area and the continuation of the fall of the pair on Forex with a goal below the 0.8455 area. Confirmation of the pair's rise in the current trading week for the week of June 14 — 18, 2021 will be the breakdown of the resistance area and the closing of quotes above the level of 0.9225.
USD/CHF Franc exchange rate forecast for the week of June 14-18, 2021
Among the important news from Switzerland that may affect the Swiss Franc against the US Dollar, it is worth highlighting: The decision of the National Bank of Switzerland on the interest rate (Swiss National Bank (SNB) Interest Rate Decision), the Press conference of the National Bank of Switzerland (Swiss National Bank (SNB) News Conference).
Thus, the forecast of the Franc exchange rate for the week of June 14-18, 2021 suggests an attempt to test the support level near the 0.8925 area. Then, the continuation of the USD/CHF growth in the area above the level of 0.9395. The trend line test on the relative strength indicator will be in favor of the rise. The cancellation of the USD/CHF growth option will be the breakdown of the support area and the closing of quotes below the level of 0.8755. This will indicate a continuation of the pair's decline with a potential target below the level of 0.8455.