USDCHF Weekly Forex Forecast – 24th to 28th April 2017
Technical Outlook: USDCHF posted a brief high before pulling back after breaking out from the falling pitchfork. However, this higher low could signal a bullish continuation if we get to see a positive open on Monday. USDCHF remains on track to test the resistance level of 1.0172 with the downside limited to the strong support level established at 0.9894 – 0.9861. Only a break down below this support level, which is possible could signal a strong downside in price. Watch the consequent lower highs being formed which puts this into a descending triangle pattern which could be bearish for prices.
Fundamental Outlook: A rather quiet week from the Swiss franc, in comparison to the euro and the yen. Still, expect to see some volatility in the Swiss franc as the currency is also likely to be bid up. On the economic front, the trade balance figures from Switzerland will be released this week. For the most part, USDCHF will be taking cues from the U.S. data which will see the release of the GDP numbers for the first quarter. Other U.S. data includes durable goods orders which is expected to increase.
Previous USDCHF Weekly Forex Forecast
USDCHF Weekly Forex Forecast – 24th to 28th April 2017
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