Technical Outlook: The USDCHF currency pair posted strong gains last week with price action culminating into a sideways range around the 0.9500 level. The upside is expected to prevail on a breakout above the current highs. USDCHF is likely to extend the gains toward the 0.9629 level of resistance which also marks the completion of the measured move from the ascending triangle pattern break out. Given the ranging markets these days, USDCHF could also risk pushing lower to retest the 0.9426 level where support could be formed.
Fundamental Outlook: Data from Switzerland this week will see the release of the retail sales data followed by inflation report. The monthly unemployment figures will be coming out but the data is unlikely to move the Swiss franc much. Focus will be on a busy week for the U.S. dollar. Data from the United States includes the ISM manufacturing PMI and the ADP payrolls during the first part of the week. This will eventually culminate into Friday’s payrolls report.
Previous USDCHF Weekly Forex Forecast
USDCHF Weekly Forex Forecast – 2nd to 6th April 2018
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