USDCHF Weekly Forex Forecast – 6th to 10th Mar 2017
Technical Outlook: USDCHF has been consolidating for the most part last week with prices seen hovering near 1.0096 support/resistance level. The current declines are expected to continue, which could see USDCHF slip towards 1.0010 support level, which will mean a breach of the rising trend line as well. USDCHF is biased to remain sideways/range bound within 1.0096 and 1.0010 levels. Expect to see further direction being established only on a break out from either of these two levels.
Fundamental Outlook: A somewhat busy week from Switzerland, data will be focusing on the unemployment rate, consumer prices and foreign currency reserves, due to come out on Tuesday, Wednesday and Thursday. The unemployment rate is expected to remain steady at the rate of 3.3% in February 2017, unchanged from January’s print. Consumer prices are expected to rise 0.2% on a month over month basis, following a flat print in January 2017. The uptick in inflation is expected to come as a result of higher energy prices.
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USDCHF Weekly Forex Forecast – 6th to 10th Mar 2017
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