USDCHF Weekly Forex Forecast – 26th to 30th Mar 2018
Technical Outlook: The USDCHF managed to maintain the gains above the 0.9462 level of support although price action was seen falling back to this level by Friday’s close. Still, we expect to see consolidation taking place but there is an increasing probability that the current support level could give way for USDCHF to decline towards 0.9359 level initially. To the upside, if the support holds, we could expect to see USDCHF remain range bound within the support and the previous highs formed. Only a breakout above the previous highs near 0.9656 will push the currency pair to test the levels of 0.9629.
Fundamental Outlook: A slow week from Switzerland with no economic data worth mentioning will be compensated by a busy week from the U.S. The FOMC meeting is due on Wednesday and market expectations point an increase in the short term interest rates. The Fed will also be releasing its economic projections which could offer more insights into the path of rate hikes. Later in the week, the flash manufacturing and services PMI numbers will be coming out. On Friday, durable goods orders data will be released although the FOMC meeting is most likely to take the center stage.
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USDCHF Weekly Forex Forecast – 26th to 30th Mar 2018
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