USDJPY Weekly Forex Forecast – 2nd to 6th July 2018
Technical Outlook: The USDCHF currency pair posted a reversal back near the resistance area of 1.00 – 0.9979 region. The declines off this level saw the currency pair falling back to the lower support region of 0.9894. With the 4-hour Stochastics currently near the oversold level, there is a possibility that USDCHF could post a modest rebound. However, price action is expected to remain within this range in the near term. A breakout below 0.9894 could trigger declines down to 0.9821.
Fundamental Outlook: Data from Switzerland remains broadly quiet with only the manufacturing PMI, retail sales and the unemployment rate reports coming out this week. None of the reports are expected to make any big impact in the currency markets. On the other hand, data from the U.S. will see the release of the key economic indicators which includes the ISM’s manufacturing PMI as well as the monthly payrolls report which could influence the currency pair for the week ahead.
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USDCHF Weekly Forex Forecast – 2nd to 6th July 2018
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