Dollar Franc USD/CHF currency pair continues to move within the fall. At the time of publication of the Forex trading forecast, USD/CHF is 0.9137. Moving averages indicate the presence of a short-term bullish trend for the pair. Prices broke through the area between the signal lines down, which indicates pressure from sellers and the potential continuation of the fall in the value of the asset from the current levels. At the moment, we should expect an attempt to develop the growth of US Dollar against Swiss Franc and a test of the resistance area near the level of 0.9205. Then, the rebound and the beginning of the fall of US Dollar against Swiss Franc with a potential target below the level of 0.8965.
USD/CHF. Trading forecast and signals for Dollar Franc for April 20
An additional signal in favor of the fall of Dollar Franc currency pair on FOREX will be a test of the descending trend line on the relative strength indicator (RSI). The second signal will be a rebound from the lower border of the ascending channel. The cancellation of the fall of USD/CHF pair on Forex will be a strong growth and a breakdown of the 0.9405 area. This will indicate the breakdown of the resistance area and the continuation of the rise of USD/CHF quotes in the area above the level of 0.9655. Expect confirmation of the fall in USD/CHF quotes with a breakdown of the support area and a close below the level of 0.9065.
USD/CHF. Trading forecast and signals for Dollar Franc for April 20
Important news from Switzerland, which may have an impact on USD/CHF rate, are not expected, so the pair will continue to move within the framework of technical analysis.
Thus, USD/CHF trading forecast for April 20, 2021 suggests an attempt to test the resistance area near the level of 0.9205. Further, USD/CHF currency pair will continue to fall with a target below the level of 0.8965. An additional signal in favor of the fall of Dollar-Franc pair will be a test of the trend line on the relative strength indicator. The cancellation of the fall option will be a strong growth and a breakdown of the 0.9405 area. This will indicate a breakout of the resistance level and a continuation of the pair's rise with a potential target above the level of 0.9655.