The Swiss franc had another quiet week, and showed little change against the dollar this week. The upcoming week is very quiet, with only two releases. Here is an outlook for the Swiss events, and an updated technical analysis for USD/CHF. All eyes are on the Greek bailout deal, as the troika and the Greek government try to hammer out a deal. The Greek parliament must approve a deeply unpopular austerity package, which promises to be a tough battle. With so much at stake for the eurozone on this vote, the news out of Athens this week promises be anything but dull. Updates: Swiss PPI disappoints by remaining unchanged. With deflation, another intervention could occur. USD/CHF is lower, partially enjoying the Greek austerity approval. The doubts about the deal for Greece helped the US dollar and sent USD/CHF a bit higher. ZEW Economic Expectations improved in Switzerland and rose to -21.2 points. The worries about Greece keep the pair from falling, and it remains around 0.9180. USD/CHF is on the rise after the situation in Greece deteriorated and the FOMC minutes showed low chances of QE3 in March. The pair is close to 0.93. The upcoming deal for Greece weakened the dollar. USD/CHF is under 0.92 once again. USD/CHF daily graph with support and resistance lines on it. Click to enlarge: PPI: Monday, 8:15. The Producer Price Index is an important indicator of consumer inflation. The index rose by 0.3% in January, surprising the markets, which had predicted a decrease. If the index can again beat the market forecast, this would be bullish for the pound. ZEW Economic Expectations: Wednesday, 10:00. This index is based on a survey of institutional investors and analysts, who have extensive experience with market and economic conditions. The index is well below the 50 level, indicating a pessimistic outlook. On the bright side, the January reading of -50.1 was the index’s best performance since June 2011. An improved figure this month could bolster confidence in the Swiss economy. USD/CHF Technical Analysis USD/CHF continued to trade in a narrow range this week. The pair opened at 0.9193, and reached a high early in the week of 0.9263. The low for the week was 0.9089, as the support level of 0.9085 (discussed last week) is holding for the time being. The pair closed the week at 0.9147. Technical lines from top to bottom: We begin with 0.9780, a strong resistance line, last tested by the pair in February 2011. Below, is a resistance line at 0.9636. This is followed by 0.9510, which was tested earlier this month, and is providing strong resistance. Below, is the line of 0.9412, which earlier in the month was acting as support, and is now in a resistance role. Next is the weak resistance line of 0.9306, which was breached in January. This is followed by a weak resistance level at 0.9250, which the pair broke through this week. It could be tested on any recovery by the dollar. Below, 0.9204 has been an important line since November 2011, providing support until very recently. The line of 0.9120 has been repeatedly tested in February, as the dollar has weakened and the pair has moved downwards. Next, 0.9085 is providing weak support and could be tested on a further downswing by the pair. The psychologically important round figure of 0.90 is providing strong support for now. The support level of 0.8950 has provided firm support since November 2011. This is followed by 0.8850, which is providing the pair with major support. The final support line for now is 0.8768, which has not been tested since last November. I am neutral on USD/CHF. After an outstanding January, the pair continues to trade in range. Much depends on the outcome of the Greek bailout agreement, as further financial uncertainty in the eurozone will likely bring volatility to the currency markets. Further reading: For a broad view of all the week’s major events worldwide, read the USD outlook. For EUR/USD, check out the Euro to Dollar forecast. For the Japanese yen, read the USD/JPY forecast. For GBP/USD (cable), look into the British Pound forecast. For the Australian dollar (Aussie), check out the AUD to USD forecast. For the New Zealand dollar (kiwi), read the NZD forecast. For USD/CAD (loonie), check out the Canadian dollar forecast. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher MinorsUSD/CHF Forecast share Read Next Forex Daily Outlook February 13 2012 Yohay Elam 11 years The Swiss franc had another quiet week, and showed little change against the dollar this week. The upcoming week is very quiet, with only two releases. Here is an outlook for the Swiss events, and an updated technical analysis for USD/CHF. All eyes are on the Greek bailout deal, as the troika and the Greek government try to hammer out a deal. The Greek parliament must approve a deeply unpopular austerity package, which promises to be a tough battle. 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