[FOREX TIP] USDCHF Weekly Forex Forecast – 15th to 19th Jan 2018

USDCHF Weekly Forex Forecast – 15th to 19th Jan 2018

Technical Outlook: USDCHF was seen trading weaker as a short term rebound off the 0.9741 support failed to keep prices supported. The decline below the support level indicates downside momentum in the currency pair. We expect USDCHF to maintain the declines falling to 0.9455 support. The downside target is likely to be achieved in the medium term. Any gains will most likely be capped near the current support level of 0.9741 which could be tested for resistance. The bias can only shift if USDCHF manages to recover above 0.9741 and most importantly close convincingly above 0.9894 level of resistance.

Fundamental Outlook: A slow week from Switzerland will see only the release of the producer price index data later in the week. Much of the fundamentals for the USDCHF will come from the economic data from the U.S. Forward looking indicators will see the release of the Empire State Manufacturing index that will be released by the NY Fed. Later in the week, focus shifts to the housing markets. The NAHB will be first coming out with its housing market index data which will then be followed by the housing starts. The housing market in the U.S. has remained relatively strong and this trend is expected to continue. The week winds off with the University of Michigan’s consumer sentiment and inflation expectations report..

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USDCHF Weekly Forex Forecast – 15th to 19th Jan 2018

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