[FOREX TIP] USDCHF Weekly Forex Forecast – 26th to 30th June 2017

USDCHF Weekly Forex Forecast – 26th to 30th June 2017

Technical Outlook: USDCHF extended the declines last week, however there is scope that price action could be forming a higher low. A break out above 0.9730 is required for USDCHF to reverse the current trend. The higher low along with a breakout above 0.9730 will signal a continuation towards 0.9861 where the previously breached support level could be tested for resistance. To the downside, a continuation could see USDCHF extend the declines back to the previous low and potentially complete the descending triangle pattern, targeting 0.9564.

Fundamental Outlook: Data from Switzerland is very limited leaving most of the heavy lifting from the U.S. dollar. A rather busy week from the U.S., data includes the durable goods orders and the pending home sales report in the early part of the week. Mid-week, we get to see the final GDP numbers from the U.S. for the quarter ending March 2017. At the second revision, the GDP numbers were revised higher to 1.2%, from 0.9% previously estimated. The personal consumption expenditure data and the personal income figures will also give a glimpse into the state of the households in the United States.

Previous USDCHF Weekly Forex Forecast

USDCHF Weekly Forex Forecast – 26th to 30th June 2017

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