The USDCHF declined last week , printed support at the 0.9360 levels , let’s take a quick look first at the most important news which may influence USDCHF pair this week :
Tuesday , Oct 21 2014
- US will release its report on Existing Home Sales.
Wednesday , Oct 22 2014
- US will release its data on Core CPI (MoM) (Sep) .
Thursday , Oct 23 2014
- US will release its weekly report on initial jobless claims.
Friday , Oct 24 2014
- US will end the week with its report on New Home Sales (Sep).
Events will be discussed during the week …..
Technical Outlook :
Outlook in USDCHF has turned neutral with risk to the upside , support comes at the 0.9360 levels , a failure to hold below the 0.9360 levels on a weekly closing basis , could mean a return to the 0.9575 levels ahead of the 0.9685 levels , break of the 0.9685 levels would open 0.9750 next , further upside will aim the 0.9840 levels.
On the downside , support comes at the 0.9360 levels , losing this level on a weekly closing basis , will bring a corrective pullback above the 0.9150/0.9000 levels .
In all , as long as support 0.9360 holds on a weekly closing basis , outlook in USDCHF remains on the upside towards the 0.9575 levels ahead of the 0.9685, below 0.9360 faces a pullback risk …
Conclusion : Oversold zone is below 0.9360 levels , so any positive news for USDCHF around /below 0.9360 is likely to bring strong rebound .