Fundamental Forex Market Outlook for the Upcoming Week
The key fundamental economic events that can strongly influence the forex market this week feature the U.S. inflation and Retail Sales data, the BOJ Rate Decision and the UK Employment Report. Those key economic releases and others due out during this week are detailed further below, with the current market consensus expectations or the last 
result included in parenthesis whenever available.
The coming week’s highlights start on Monday with U.S. Existing Home Sales (4.82M). Tuesday then offers N.Z. Inflation Expectations (last 2.9%), UK Public Sector Net Borrowing (4.3B) and Canadian Core Retail Sales (0.4%), as well as the release of the highlighted U.S. Preliminary GDP (2.5%) and FOMC Meeting Minutes.
Wednesday is a Japanese Bank Holiday, and the market will closely monitor the Chinese HSBC Flash Manufacturing PMI (last 51.0), UK MPC Meeting Minutes (0-0-9), U.S. Core Durable Goods Orders (0.1%) and Weekly Initial Jobless Claims (387K).
Thursday is the U.S. Thanksgiving Day Bank holiday and its key data releases include the German Ifo Business Climate survey (105.5) and UK Revised GDP (0.5%). That will conclude the week’s highlights since Friday has no notable economic data releases or events scheduled.
Technical Forex Market Outlook for the Upcoming Week
EUR/USD:
Weekly Forecast: Higher
Resistance: 1.3557, 1.3614, 1.3795/98, 1.3813/27, 1.3854/58, 1.3868, 1.3973, 1.4246, 1.4258, 1.4279, 1.4327 and 1.4499/1.4503.
Support: 1.3495, 1.3483, 1.3450, 1.3437, 1.3422, 1.3360, 1.3333, 1.3241/44, 1.3145, 1.3055, 1.3000 and 1.2968.
200-day MA: 1.4100 and flat.
14-day RSI: 43.2 and falling.
USD/JPY:
Weekly Forecast: Somewhat lower
Resistance: 77.00, 77.25/89, 78.66, 79.05, 79.40, 79.52, 79.96, 80.00, 80.22, 80.82, 81.34, 81.76, 82.01/22, 82.77, 83.09 and 83.77.
Support: 76.57, 76.41, 76.10, 75.94, 75.70, 75.65, 75.56, 75.00 and 70.00 likely.
200-day MA: 79.57 and falling.
14-day RSI: 44.9 and falling.
GBP/USD:
Weekly Forecast: Higher
Resistance: 1.5868/90, 1.5912/19, 1.5932, 1.5945, 1.5977, 1.6000, 1.6093, 1.6130/65, 1.6206, 1.6259, 1.6332/47, 1.6434/73, 1.6500/98 and 1.6616.
Support: 1.5745, 1.5691, 1.5630/85, 1.5525/31, 1.5483, 1.5422, 1.5373, 1.5339/55, 1.5326, 1.5293, 1.5270, 1.5123 and 1.5000.
200-day MA: 1.6130 and falling slightly.
14-day RSI: 45.8 and falling.
USD/CHF:
Weekly Forecast: Lower
Resistance: 0.9156, 0.9180, 0.9198, 0.9236, 0.9277/0.9339, 0.9368 and 0.9774/83.
Support: 0.9149, 0.9139, 0.9080/85, 0.8979, 0.8951/58, 0.8916/26, 0.8873/83, 0.8804, 0.8797, 0.8788, 0.8760/68, 0.8727, 0.8649, 0.8622, 0.8566 and 0.8536.
200-day MA: 0.8695 and falling.
14-day RSI: 59.3 and rising.
AUD/USD:
Weekly Forecast: Higher
Resistance: 1.0052, 1.0100/16, 1.0184, 1.0201/29, 1.0303/70, 1.0444/98, 1.0608, 1.0654 and 1.0718/84.
Support: 1.0000, 0.9983, 0.9964, 0.9925, 0.9863, 0.9732, 0.9689, 0.9667, 0.9651, 0.9620/27, 0.9536/41 and 0.9500.
200-day MA: 1.0415 and flat.
14-day RSI: 40.2 and falling.
USD/CAD:
Weekly Forecast: Lower
Resistance: 1.0302, 1.0337, 1.0417, 1.0481/90, 1.0500, 1.0506, 1.0646/56, 1.0669, 1.0742, 1.0756, 1.0785, 1.0853, 1.0868, 1.1000 and 1.1101/23.
Support: 1.0262/87, 1.0210/33, 1.0172/99, 1.0132/42, 1.0105, 1.0075, 1.0053, 1.0026/30, 0.9969, 0.9934, 0.9891, 0.9828/77, 0.9763/96, 0.9734/39, 0.9724, 0.9686 and 0.9645.
200-day MA: 0.9827 and rising slightly.
14-day RSI: 56.3.0 and rising slightly.
NZD/USD:
Weekly Forecast: Higher
Resistance: 0.7605/72, 0.7723/41, 0.7795, 0.7804, 0.7855/59, 0.7881/88, 0.7955/96, 0.8066/93, 0.8109/90 and 0.8240.
Support: 0.7549/52, 0.7523, 0.7504, 0.7500, 0.7453/67, 0.7426, 0.7404, 0.7342, 0.7321, 0.7189, 0.7115, 0.7000 and 0.6945/62.
200-day MA: 0.7989 and flat.
14-day RSI: 33.7 and falling.
