USDCHF Monthly Forex Forecast for Sept 2018
Technical Outlook: The USDCHF currency pair closed August with a bearish note. The declines come following July’s doji pattern on the monthly chart. The indecision comes within the price range of 1.0028 and 0.9803 levels. The downside breakout could potentially indicate further weakness in the currency pair. The USDCHF is likely to target the 0.9469 – 0.9432 level over the coming months. The decline to the support level marks a retest of the support level..
Fundamental Outlook: The month ahead is expected to remain mostly quiet as far as data from Switzerland is concerned. Early in September the quarterly GDP figures will be coming out and this is later followed up by the quarterly SNB meeting. No changes are expected to the 3-month Swiss LIBOR rate. Data from the U.S. will be another factor to watch with the FOMC set to hike interest rates this month. For the most part, investors will be looking to the data for August to assess how the U.S. economy performed in the third quarter of the year.
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