[FOREX TIP] USDCHF Weekly Forex Forecast – 3rd to 7th April 2017

USDCHF Weekly Forex Forecast – 3rd to 7th April 2017

Technical Outlook: USDCHF has been steadily rising after prices formed support near 0.9894 – 0.9861. The bullish rally continues to the upside and price action is likely to push closer back to 1.015 – 1.0172 region where resistance is likely to be formed yet again. With the daily Stochastics moving up from the oversold levels, USDCHF will be a buy on the dips, targeting 1.0173. The bullish bias will be invalidated in the event price breaks down below the support level.

Fundamental Outlook: The first week of April will focus on a number of reports from Switzerland. Kicking off the week will be the retail sales which is expected to show a 0.8% decline on a year over year basis. This is a slight improvement from the month before, where retail sales fell 1.4%. Inflation from Switzerland is expected to show a 0.2% increase, which is slightly down from 0.5% registered inflation the month before. The Swiss franc is however expected to focus on the FOMC meeting minutes and the U.S. nonfarm payrolls report which will shape the direction for USDCHF this week.

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USDCHF Weekly Forex Forecast – 3rd to 7th April 2017

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