USDCHF Weekly Forex Forecast – 8th to 12th May 2017
Technical Outlook: USDCHF continued to extend the declines with price closing at support on Friday nar 0.9894 – 0.9861. This is a familiar support that has held out on two other occasions, and it also marks the possible lower highs being formed in price. Thus, in the event of a break down below this support, we can expect the downside to accelerate with USDCHF likely to extend the declines down to 0.9784 followed by the major support at 0.9644. To the upside, only a breakout above the short term pivot high of 0.9966 will confirm some upside in prices.
Fundamental Outlook: USDCHF will be focusing on data from the U.S. this week on lack of any clear events from Switzerland. On Tuesday, the unemployment rate numbers are coming out followed by inflation figures on Thursday. No major changes are expected, but focus will be on the U.S. data which will also see the consumer price index and retail sales numbers coming out on Friday.
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USDCHF Weekly Forex Forecast – 8th to 12th May 2017
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