Tue, Sep 27, 2022 @ 04:49 GMT
HomeContributorsTechnical AnalysisUSD/CHF Strong Bearish Breakout, USD/CAD Continued Weakness, AUD/USD Sideways Price Action Around...

USD/CHF Strong Bearish Breakout, USD/CAD Continued Weakness, AUD/USD Sideways Price Action Around 0.7600.

USD/CHF Strong bearish breakout.

USD/CHF is pushing lower. Hourly resistance can be found at 0.9771 (09/06/2017 high). Strong resistance is given at 1.0107 (10/04/2017 high). Hourly support given at 0.9614 (06/06/2017 low) has been broken. Expected to show continued bearish pressures.

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 Continued weakness.

USD/CAD is back into bearish mode. Hourly support given at 1.3165 (14/06/2017 high) has been broken. Expected to show continued weakness towards strong support given at 1.3010 (16/02/2017 low).

In the longer term, the pair lies in a bullish channel since a year. 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 Sideways price action around 0.7600,

AUD/USD ‘s technical structure is positive since early May. Yet, in the short-term there will likely be renewed bearish pressures towards support given at 0.7520 (09/06/2017 low)

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.

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