Technical Outlook: The USDCHF currency pair was seen breaking below the support level of 0.9894 on Friday. Price action indicates that following a brief spell of sideways movement, the USDCHF is likely to post a short term correction to the downside. The lower support at 0.9821 could be tested for support once again while the currently breached support at 0.9894 could turn to resistance. We expect the currency pair to trade sideways within this level in the near term. Fundamental Outlook: Data from Switzerland is rather limited this week leaving the focus onto the U.S. economic data. The markets will be looking to the final GDP numbers for the first quarter of the year. The U.S. economy was seen expanding at a slower pace in the first quarter but the data is unlikely to impact the markets to a big extent. The Core PCE price index and personal spending and income figures will be key for investors to assess the momentum in the U.S. economy. Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast - 25th to 29th June 2018