USDCHF Weekly Forex Forecast – 8th to 12th Jan 2018
Technical Outlook: The USDCHF extended the declines with price action falling to the support level near 0.9741. We can see price attempting to rebound at this level. In the near term, USDCHF could remain range bound within the 0.9894 and 0.9745 level of resistance and support. A breakout from this level will signal further direction in price. Expect to see a short term pullback to 0.9861 following which USDCHF is likely to post declines down to 0.9455 level of support.
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Fundamental Outlook: A quiet week from Switzerland, data will focus on the monthly inflation numbers and the retail sales report. Switzerland will also be releasing the monthly unemployment rate figures as well. In the U.S. a somewhat busy week will see the release of the import and export price data. On Thursday, the producer price index report will show the pace of price gains at the factory gate. This is followed by Friday’s inflation report that covers the month of December.
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