USDCHF Weekly Forex Forecast – 17th to 21st April 2017
Technical Outlook: USDCHF has been giving up some of its gains as price fell to 1.0007 briefly last week. With the upside break out in the USDCHF, we can expect to see the bullish momentum take the currency pair further to the upside towards 1.01730 resistance level which was previously tested. This bullish bias remains invalidated only on a break down from the previous low at 1.0007 in which case USDCHF could seen pushing lower towards the next main support at 0.9894 – 0.9861.
Fundamental Outlook: Economic data from Switzerland is quiet with no events lined up, following last week’s PPI data. Therefore, USDCHF will be looking at cues from the U.S. data which includes building permits which is expected to rise 1.25 million. Other data from the U.S. includes the industrial production and capacity utilization rate. Flash services and manufacturing PMI numbers are also expected to be released over the week. USDCHF will also be coming under the influence of the market sentiment as well as investors are likely to take safety in the safe haven status of the Swiss franc amid ongoing uncertainty in the global markets.
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USDCHF Weekly Forex Forecast – 17th to 21st April 2017
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