USDCHF Weekly Forex Forecast – 19th to 23rd Feb 2018
Technical Outlook: The USDCHF daily chart shows a clear bullish divergence after price fell to new lows of 0.9210. The daily Stochastics is currently forming a higher low against the lower low in price. This could suggest a correction on the horizon. Look for USDCHF to retrace back to the resistance near 0.9455. If the resistance level holds, USDCHF could remain consolidating within the current levels. However, a breakout above this level could indicate further gains that could send USDCHF towards 0.9741 level.
Fundamental Outlook: Switzerland will be releasing the trade balance figures during the week which is the only economic data that will be coming out. Focus turns to the data from the U.S. which will see the existing home sales report. The FOMC will be releasing the meeting minutes from January which will give further insight into how policy makers debated at the meeting where interest rates were left unchanged. Flash manufacturing and services PMI figures from Markit will be coming up later followed by the revised UoM consumer sentiment and inflation expectations data.
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USDCHF Weekly Forex Forecast – 19th to 23rd Feb 2018
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