Tue, Sep 27, 2022 @ 03:44 GMT
HomeContributorsTechnical AnalysisUSD/CHF Bullish Consolidation, USD/CAD Bearish Breakout, AUD/USD Consolidating.

USD/CHF Bullish Consolidation, USD/CAD Bearish Breakout, AUD/USD Consolidating.

USD/CHF Bullish consolidation.

USD/CHF remains weak as long as prices remain below the key resistance at 0.9647 (28/06/2017 high). 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 is given at 0.9553 (intraday low). 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 Bearish breakout.

USD/CAD is way into bearish mode. Strong support given at 1.2969 (31/01/2017 low) has been broken. Resistance is located at 1.3010 (02/15/2017). Expected to show continued downside pressures.

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 Consolidating.

AUD/USD’s technical structure is bullish since early May. Recovery bounce near former resistance at 0.7636 is gaining momentum. The pair is heading towards strong resistance at 0.7750 (21/03/2017 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.

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