USD/CHF Short-term downside momentum continues.
USD/CHF failed to breach 1.0107 dropping sharply to support. The short-term technical structure is negative as long as prices remain below the hourly resistance at 1.0171 (07/03/2017). Hourly support is given at 0.9955 (30/03/2017 base low) then 0.9814 (27/03/2017 low).
In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours nonetheless a long term bullish bias since the unpeg in January 2015.
USD/CAD Moving sharply higher.
USD/CAD is moving sharply higher from hourly support at 1.3265 confirming an underlying bearish trend. Hourly resistances can now be found 1.3456 (04/04/2017 high). Hourly support can be located at 1.3353 then at 1.2969 (31/01/2017 low).
In the longer term, there is a golden cross with the 50 dma crossing the 200 dma indicating further upside pressures. Strong resistance is given at 1.4690 (22/01/2016 high). Long-term support can be found at 1.2461 (16/03/2015 low).
AUD/USD Moving sharply lower.
AUD/USD has failed to break short term resistance at 0.7610, reversing bullish momentum. Hourly support is located at 0.7494 (13/01/2017 low). Key resistance stands at 0.7681 (30/03/2017 high).
In the long-term, we are waiting for further signs that the current downtrend is ending. Key supports stand at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view.
