USD/CHF Currency Pair: Analysis and Forecast for Current Week

Saturday, 13 July 2024, 10:06

The USD/CHF currency pair experienced a downward trend, falling from 0.9049 with a slight recovery. The recent bounce from 8825 seems to have ended post the rejection at channel resistance. A further decline is anticipated as long as the 0.9000 resistance level remains unbroken, targeting the 0.8825 low. Conversely, surpassing 0.9000 could shift bias towards an upward movement aiming for the 0.9049 resistance level.
Actionforex
USD/CHF Currency Pair: Analysis and Forecast for Current Week

USD/CHF Weekly Outlook

The USD/CHF currency pair witnessed a decline from 0.9049, followed by a minor recovery. However, the recent upturn from 8825 appears to have ended after facing resistance from the channel. Deeper decline is anticipated if the 0.9000 resistance level continues to hold, potentially reaching the 0.8825 low. Breaking below 0.8825 would signal a move towards the 50% retracement level of 0.8332 to 0.9223 at 0.8778. On the other hand, exceeding the 0.9000 mark would shift the bias upwards, targeting the 0.9049 resistance instead.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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