Currency pair USD/CHF US Dollar to Swiss Franc is trading at 0.8833 and continues to move within the correction and bearish channel. The pair is trading above the upper boundary of the Cloud of the Ichimoku Kinko Hyo indicator. This indicates a bullish trend for the Dollar Franc pair. As part of the forecast for the US Dollar to Swiss Franc exchange rate for today, March 20, 2024. A correction is expected to develop and a test of the signal line area of the Ichimoku Kinko Hyo indicator is expected near the level of 0.8815. Where can we expect an attempt to rebound upward and continued growth of the pair with a potential target near the level of 0.8905.
Dollar Franc Forecast USD/CHF for March 20, 2024
An additional signal in favor of 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. Previously, a weak signal was received to buy the Dollar Franc pair. The signal was formed due to the intersection of signal lines at the level of 0.8760. The nearest resistance area for the Dollar Franc pair is located at the level of 0.8885. The nearest support area for the USD/CHF pair is located near the 0.8805 area.
Cancellation of the option to increase the quotes of the USD/CHF pair will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 0.8735. This option will indicate a change in the bearish trend in favor of a bullish trend and continued growth of the asset in the Forex market. Expect an acceleration in the fall of USD/CHF quotes with a breakdown of the support level and closing below the level of 0.8715.
Dollar Franc Forecast USD/CHF for March 20, 2024 suggests an attempt to test the support level near the 0.8815 area. Where can we expect the currency pair to continue to grow on Forex with a potential target near the level of 0.8905. Cancellation of the option to raise the pair will be a breakdown of the area 0.8735. This will indicate a continued fall in the US Dollar against the Swiss Franc with a target below the level of 0.8675.
