USD/CHF opens the week lower after testing first Fibo resistance at 0.9082

FXstreet.com (Barcelona) - The greenback has been weak due to the DC follies recently – which along with perceived Swiss strength has pressured the USD/CHF down to important weekly support.

USD/CHF to react to DC and economic data this week

USD/CHF traders will be closely monitoring the ongoing battle in Washington, but will also react throughout the week to US and Swiss data points – here is the schedule:

• Monday –US Consumer Credit
• Tuesday – Swiss unemployment; Swiss CPI; Swiss Retail Sales; US Trade Balance; US Fed Head speeches
• Wednesday – US mortgage applications; US 10-Year Note auction; US FOMC meeting minutes;
• Thursday – US import/export prices; US weekly jobless claims; multiple Fed Head speeches; US 30-Year Bond auction;
• Friday – US monthly jobs report; US PPI; US retail sales; US University of Michigan Consumer Sentiment; US Business Inventories

Technical outlook for USD/CHF

Technicians say weekly support for USD/CHF at 0.9021 was tested last Thursday and held at least for the time being. If a weekly close below that level occurs, the next projected support level would be 08921.