Technical Outlook: The USDCHF currency pair has been gradually drifting lower. The currency pair drifted into the range of 0.9894 – 0.9821 level. In the near term, we expect the USDCHF to maintain the sideways range. A breakout from this level could signal further direction in the near term. To the upside, USDCHF will be seen testing the upper resistance at 0.9957 while to the downside, strong losses can be expected if USDCHF breaks below 0.9821.
Fundamental Outlook: A slow week for data from Switzerland which only see’s the release of the unemployment report. Inflation figures are also due over the week, but these are not expected to move the markets much. Focus turns to data from the U.S. which will see a relatively light week in comparison. The ISM’s non-manufacturing PMI will be coming up followed by other second tier data such as the consumer credit and wholesale inventories report.
Previous USDCHF Weekly Forex Forecast
USDCHF Weekly Forex Forecast – 4th to 8th June 2018
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