Technical Outlook: USDCHF posted a strong reversal with minor support at 0.9783 failing to hold the declines. This resulted in a strong decline in prices with support at 0.9700 holding as support for now. In the near term we can expect further declines in USDCHF which will see price testing support at 0.9650. However, expect to see a bounce off this support back to 0.97 region. If resistance here holds then further declines could be seen in USDCHF with a potential breakout below 0.9650.
Fundamental Outlook: For the Swiss franc, the currency could come under pressure as the Swiss National Bank Governor; Thomas Jordan is scheduled to speak in Geneva on Monday. Economic calendar is quiet for the remainder of the day, leaving much of the heavy lifting to the US data. Durable goods orders, PCE and new home sales numbers are the data points to watch followed by Friday’s final GDP revisions to the US economy for the second quarter.
Looking at the candle formation, price is heading south. Looking at the Stochastic, it might look like the Bears are out of action. Well, price is right about at resistance level and resistance seems to have rejected price at the moment. This is going to be tricky but we feel it’s gonna be bearish for USDCHF this week…
USDCHF Weekly Forex Forecast – 26th to 30th Sept 2016 – BEARISH
Claim Your $60 No Deposit Bonus Here
All you need is to have your live account verified!
Of course, you need to open a live account...
2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!
We use both of these brokers and proudly promote them!
NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.Other Analysis Today