Technical Outlook: USDCHF continued its bullish uptrend last week after prices managed to rebound strongly from just below the 0.9800 price level. Price action quickly managed to breach the resistance level of 0.987 - 0.9845 closing the week above this resistance level. However, the Stochastics points to a possible bearish divergence on the chart which could signal a pull back to 0.9805 level. Look for price consolidation near the resistance zone of 0.9871 - 0.9845 for any bearish candlestick pattern that could signal the downside move. Fundamental Outlook: For a week that is void of any fundamentals from Switzerland, the euro's moves will be key to USDCHF as well as data from the US. While the ECB meeting will weigh on the Swiss franc, traders should also watch out for key US data which includes industrial production and housing data such as housing starts, existing home sales and building permits. There are also some Fed speeches lined up over the week with Dudley, Fischer among the FOMC members due to speak over the week.

USDCHF Weekly Forex Forecast - 17th to 21st Oct 2016 - BULLISH