USDCHF Weekly Forex Forecast - 18th to 22nd Sept 2017

USDCHF Weekly Forex Forecast – 18th to 22nd Sept 2017

USDCHF Weekly Forex Forecast – 18th to 22nd Sept 2017

Technical Outlook: USDCHF posted a strong reversal off 0.9455 support last week. Price action managed to close above 0.9563 with Friday’s close briefly dipping back to this level. If USDCHF establishes support at 0.9563, we can expect some upside in prices in the near term. The long term resistance and target remains at 0.9861 which could eventually be tested in the near term. However, USDCHF remains range bound in the medium term with price action trading within 0.9861 and 0.9563. A breakout from this range will determine further direction in price.

Fundamental Outlook: After the Swiss national bank’s meeting last week, the economic data from Switzerland this coming week will see only the release of the SECO economic forecasts and the trade balance figures. Most of the heavy lifting will come from the events that could influence the USD. The FOMC meeting is due on Wednesday which could bring some volatilty to the Swiss franc as well. The Fed is expected to keep interest rates unchanged but could unveil its balance sheet normalization.

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 18th to 22nd Sept 2017

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