Outlook in USDCHF has turned neutral with risk to the upside , support comes at the 0.9618 levels , a failure to hold below the 0.9618 levels on a weekly closing basis , could mean a return to the 0.9817 levels where a breach will open 0.9920 next , further upside will aim the 1.000/1.070 levels.
On the downside , support comes at the 0.9618 levels , losing this level on a daily closing basis will bring a corrective pullback towards the 0.9530 levels before the next rise , however ; If 0.9530 fails on a weekly closing basis , expect to see a free fall towards the 0.9150/0.9000 levels.
In all , as long as 0.9618 support holds on a weekly closing basis , outlook in USDCHF remains on the upside towards the 0.9817 levels ahead of the 0.9920/1.070 levels , below 0.9618 will bring a corrective pullback towards the 0.9530 levels before the next rise.
Key data/events which may influence USDCHF next week :
Monday , Dec 15 2014
- Swiss Producer Price Index (PPI) (MoM) (Nov).
- US NY Empire State Manufacturing Index (Dec) .
- US Industrial Production (MoM) (Nov) .
- US Treasury International Capital (TIC) Net Long-Term Transactions (Oct).
Tuesday , Dec 16 2014
- US Building Permits (Nov) .
- US Housing Starts (MoM) (Nov) .
Wednesday , Dec 17 2014
- US Core Consumer Price Index (CPI) (MoM) (Nov).
- US FOMC statement .
- US Fed Interest Rate Decision followed by Fed’s Monetary Policy Statement and press conference .
Thursday , Dec 18 2014
- US Initial Jobless Claims .
- US Services PMI (Dec) .
- US Philadelphia Fed Manufacturing Index (Dec) .