Technical Outlook: The USDCHF currency pair was seen testing the support level at 0.9894 once again. Price action continues to remain trading within the range of 1.0000 and 0.9894. In the near term, we expect this range to be maintained with a short term bounce likely to follow through following the retest of the support level. In the event that USDCHF breaks down below 0.9894, then we expect to see the declines pushing the USDCHF lower toward 0.9821.
Fundamental Outlook: Data from Switzerland for the week ahead will see just the unemployment report and the producer prices index. It is also a rather quiet week from the U.S. as well where only second tier data is expected. Still, the producer prices index report from the U.S. and the import price data could play a role in determining the volatility in the currency markets this week.
Previous USDCHF Weekly Forex Forecast
USDCHF Weekly Forex Forecast – 9th to 13th July 2018
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