The USDCHF consolidated above the key support 0.9360 last week , outlook unchanged but , let’s take a quick look at the most important news which may influence USDCHF pair this week :
Monday , Oct 27 2014
- US will release its report on Pending Home Sales (MoM).
Tuesday , Oct 28 2014
- US will release its data on Core Durable Goods Orders (MoM) (Sep) , later on the day , US will release another data on CB Consumer Confidence (Oct).
Wednesday , Oct 29 2014
- From U.S , we have Fed Interest Rate Decision .
Thursday , Oct 30 2014
- From Switzerland , we have KOF Leading Indicators (Oct).
- US will release its weekly report on Initial Jobless Claims , at the same time we have the high importance US GDP (Q/Q) (Q3).
Events will be discussed during the week …..
Technical Outlook :
Outlook in USDCHF remains 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 .