Currency pair USD/CHF US Dollar to Swiss Franc is trading at 0.8885 and continues to move within the growth and bullish channel. The pair is trading above the upper border of the Cloud indicator Ichimoku Kinko Hyo. This indicates the presence of a bullish trend in the Dollar Franc pair. As part of the forecast for the US Dollar to the Swiss Franc for today September 7, 2023. It is expected that the correction will continue to develop and the test of the area of the signal lines of the Ichimoku Kinko Hyo indicator near the level of 0.8865. Where should we expect an attempt to rebound upwards and continue the growth of the pair with a potential target near the level of 0.8995.
Dollar Franc Forecast USD/CHF for September 7, 2023
An additional signal in favor of the growth of the USD/CHF currency pair on Forex will be a rebound from the support area on the price chart. The second signal will be a rebound from the lower border of the bullish channel. Earlier, a weak signal was received for buying the Dollar Franc pair. The signal was formed due to the crossing of the signal lines at the level of 0.8795. The nearest area of resistance for the pair Dollar Franc is at the level of 0.8935. The nearest support area for the USD/CHF pair is located near the 0.8845 area.
Cancellation of the growth option for the USD/CHF pair quotes will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with quotes closing below the 0.8765 area. This option will indicate a change in the bullish trend in favor of the bearish trend and the continued fall of the asset in the Forex market. It is worth expecting an acceleration in the growth of USD/CHF quotes with a breakdown of the resistance level and closing below the level of 0.8945, which will indicate a breakdown of the upper limit of the bullish channel, and this is a signal to increase the width of the channel.
Dollar Franc Forecast USD/CHF for September 7, 2023 suggests an attempt to test the support level near the 0.8865 area. Where should we expect the continuation of the growth of the currency pair on Forex with a potential target near the level of 0.8995. Cancellation of the pair’s rise option will be a breakdown of the 0.8765 area. This will indicate a continued fall in the US Dollar against the Swiss Franc with a target below 0.8565.
