Fundamentals Outlook Economic data next week takes a breather after a rather busy first week. Most of the reports are second tier data and unlikely to move the markets to a bigger extent. Data includes German import prices and industrial production numbers. Economic data from Japan and Switzerland are relatively quiet. No major releases are scheduled for the week ahead. In the U.S. the monthly inflation reports will be coming out. This also includes the final inflation figures from the Eurozone as well. Given that inflation eased as per the flash estimates, we could expect a reaction on a final reading in inflation. The flows in the Swiss franc and the Japanese yen will also be set by the general market sentiment over the week. Chart set up: The USDCHF currency pair advanced strongly over the week. Price action posted a reversal just a few pips shy from the next main resistance level of 0.9967 by Friday's close. This came following the bearish engulfing pattern on the 4-hour chart. Key support/resistance levels: Support: 0.9803; Resistance: 0.9967 Commentary: The USDCHF currency pair continued to maintain the momentum as price action inched closer to the next main resistance level. With the 4-hour Stochastic oscillator strongly in the overbought level, we expect to see a short term correction in prices. However, the trend remains to the upside and a possible correction to eventually push USDCHF to test the resistance level eventually. A reversal is expected near the resistance level which could push the currency pair to test the support level. For the week ahead, USDCHF is expected to be slightly bearish. Previous USDCHF Weekly Forex Forecast