USDCHF Weekly Forex Forecast – 31st July to 4th Aug 2017
Technical Outlook: USDCHF managed to close higher on Friday. We expect to see a bottom being formed in place already. Resistance is likely to be established near 0.9703. Another higher low being formed could confirm the upside move. Therefore watch for any dips between 0.9730 and 0.9564. A break out above 0.9730 will signal a continuation in USDCHF towards 0.9861 – 0.9894 region. Alternatively, in the event that USDCHF breaks past the previous support at 0.9564, we can expect to see further declines in price.
Fundamental Outlook: Data from Switzerland this week is light. On Tuesday, the manufacturing PMI figures are expected. In June, manufacturing activity was seen rising to 60.1. This was a strong improvement in the index after falling to 55.6 just the month before. There are expectations that a moderation in the activity could be expected. Later in the week, the SECO consumer climate data will shed further insights into the consumer confidence and optimism in the economy. The retail sales figures are also due although the data is unlikely to be much of a market moving event.
Previous USDCHF Weekly Forex Forecast
USDCHF Weekly Forex Forecast – 31st July to 4th Aug 2017
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