FX.co ★ USD/CHF

USD/CHF Have a good weekend. The situation on the daily chart of the USD/CHF currency pair is clearly continuing to develop in favor of the buyers, who last week already broke through the upper boundary of the Murray regression channel 5/8 at 0.8118 and, within this test, set a new local daily high for the pair at 0.8140. So I believe the targets for further movement are defined, but for now a decline is needed to relieve the technical overbought condition in this currency pair, as indicated by the daily stochastic. Therefore, next week I expect a decline in USD quotes against the Swiss currency, but within the daily chart it will be small. Apparently, the maximum decline should be expected in the area of the bottom of the Murray regression channel 3/8 (0.7996), which also coincides with my previous estimates based on other systems, where I indicated that I do not expect the pair to leave the 0.80 handle to the downside. Moreover, a rebound may occur earlier, already during the test of the 14‑period moving average line, which is rising and may well stop the correction if the D1 stochastic manages to reach the lower boundary of its indicator. And afterwards we will expect USD/CHF to rise towards a test of the Murray reversal level 6/8 (0.8165).