USDCHF Weekly Forex Forecast – 16th to 20th April 2018
Technical Outlook: The USDCHF currency pair was seen revisiting the previously established resistance level at 0.9629 level. However, failure to break past this level saw prices mostly consolidating near this level. The gradual rally to the resistance level could potentially indicate that unless USDCHF breaks above 0.9629, we expect the downside momentum to prevail. The suppor level at 0.9461 remains the downside target in the event that the USDCHF currency pair weakens. Still, this would mark a good level to buy as we expect to see a rebound off the support level.
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Fundamental Outlook: Data from Switzerland will only see the release of the monthly inflation data. The USDCHF will of course be influenced by a somewhat busy week from the U.S. The week starts off with the retail sales report coming out on Monday followed by a number of economic releases that will cover the housing market. With higher interest rates and wage growth rising only at a steady pace, activity in the housing market is expected to be subdued. A number of Fed members will also be speaking over the week which could bring about some volatility for the U.S. dollar.
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