Crypto

USD/CHF Forecast Dollar Franc August 5, 2022

currency pair Dollar Franc USD/CHF continues to move within the framework of growth and the beginning of the development of the bullish “Wolfe Wave” model. At the time of the publication of the Forex forecast, the exchange rate of the US Dollar to the Swiss Franc is 0.9594. Moving averages indicate the presence of a short-term bearish trend for the pair. Prices are again testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the value of the asset already from current levels. At the moment, we should expect an attempt to develop a fall in the US Dollar against the Swiss Franc and a test of the support area near the level of 0.9525. Then, a bounce up and continued growth of the US Dollar against the Swiss Franc with a potential target above the level of 0.9935.

USD/CHF Forecast Dollar Franc August 5, 2022

An additional signal in favor of the growth of the Dollar Franc currency pair on FOREX will be a rebound from the support line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the growth option for the USD/CHF pair on Forex will be a fall and a breakdown of the 0.9325 area. This will indicate a breakdown of the support area and a continued fall in USD/CHF quotes to the area below the level of 0.9095. Expect confirmation of the growth of USD/CHF quotes with a breakdown of the resistance area and closing the price above the level of 0.9705.

Important news from Switzerland, which may affect the USD/CHF rate, is not expected, so the pair will continue to move within the framework of technical analysis.

Thus, USD/CHF Forecast Dollar Franc August 5, 2022 suggests an attempt to test the support area near the level of 0.9525. Further, the continued growth of the USD/CHF currency pair with a target above the level of 0.9935. An additional signal in favor of the rise of the Dollar Franc pair will be a rebound from the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 0.9325 area. This will indicate a breakdown of the support level and a continuation of the fall of the pair with a potential target below the level of 0.9095.

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