USDCHF Weekly Forex Forecast – 25th to 28th Dec 2017
Technical Outlook: The USDCHF currency pair has remained flat with price action over the past week stuck near the 0.9894 – 0.9861 level of support/resistance. A reversal near this price region could potentially signal further downside in the USDCHF. We expect that the U.S. dollar will slip towards the 0.9741 level of support initially followed by a test towards the 0.9563 support below. A retest to this support level will confirm the test of support which hd previously kept the prices supported to the upside. Alternately, to the upside, a bounce off the current level will leave the target towards 1.008 in focus..
Fundamental Outlook: Data from Switzerland for the week ahead will see just the UBS consumption indicator and the economic expectations. Both the data points are unlikely to bring about much reaction from the markets. Focus will of course turn to the U.S. markets which will see some data points that include the Conference Board’s consumer confidence data. On the housing sector, the pending home sales report will be coming out while from the labor market, the weekly unemployment claims report will be released. On Thursday, the forward looking Chicago PMI data will be released which will shed light into the activity in the manufacturing sector in the Chicago area.
Previous USDCHF Weekly Forex Forecast
USDCHF Weekly Forex Forecast – 25th to 28th Dec 2017
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