Thu, Apr 23, 2026 21:29 GMT
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    Swiss Franc Trading Lower, Ahead Of Switzerland’s Industrial Production Data

    GCI Financial

    For the 24 hours to 23:00 GMT, the USD declined 0.34% against the CHF and closed at 0.9651.

    In the Asian session, at GMT0300, the pair is trading at 0.9661, with the USD trading 0.1% higher against the CHF from yesterday's close.

    The pair is expected to find support at 0.9637, and a fall through could take it to the next support level of 0.9612. The pair is expected to find its first resistance at 0.9691, and a rise through could take it to the next resistance level of 0.972.

    Ahead in the day, Switzerland's industrial production data for the second quarter, set to release in a while, will be eyed by investors.

    The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

    Loonie Trading A Tad Higher This Morning

    For the 24 hours to 23:00 GMT, the USD declined 0.16% against the CAD and closed at 1.2547.

    In the Asian session, at GMT0300, the pair is trading at 1.2544, with the USD trading marginally lower against the CAD from yesterday’s close.

    The pair is expected to find support at 1.2521, and a fall through could take it to the next support level of 1.2499. The pair is expected to find its first resistance at 1.2582, and a rise through could take it to the next resistance level of 1.2621.

    Amid a lack of macroeconomic releases in Canada today, investor sentiment will be determined by global macroeconomic factors.

    The currency pair is trading below its 20 Hr and 50 Hr moving averages.

    GBP/JPY Daily Outlook

    Daily Pivots: (S1) 139.03; (P) 139.91; (R1) 140.39; More

    Intraday bias in GBP/JPY remains on the downside as fall from 147.76 is still in progress for 138.65 support. Break there will extend the fall from 147.76 towards 135.58 key support level. At this point, price actions from 148.42 are seen as a sideway consolidation pattern. Hence, we'll expect strong support from 135.58 to contain downside and bring rebound. On the upside, above 141.02 minor resistance will turn intraday bias neutral first.

    In the bigger picture, the sideway pattern from 148.42 is extending with another leg. We'd expect strong support from 135.58 and 50% retracement of 122.36 to 148.42 at 135.39 to contain downside. Medium term rise from 122.36 is still expected to resume later. And break of 38.2% retracement of 196.85 to 122.36 at 150.43 will carry long term bullish implications. However, firm break of 135.58/39 will dampen the bullish view and turn focus back to 122.36 low.

    GBP/JPY 4 Hours Chart

    GBP/JPY Daily Chart

    EUR/JPY Daily Outlook

    Daily Pivots: (S1) 128.43; (P) 128.77; (R1) 129.06; More...

    Intraday bias in EUR/JPY stays neutral first. As noted decline from 131.39 is seen as correcting whole rise from 141.84. Deeper fall is expected as long as 130.38 resistance holds. Below 127.55 will target 38.2% retracement of 114.84 to 131.39 at 125.05. Nonetheless, break of 130.38 will argue that the pull back is completed and turn focus back to 131.39 high.

    In the bigger picture, the down trend from 149.76 (2014 high) is completed at 109.03 (2016 low). Current rally from 109.03 should be at the same degree as the fall from 149.76 to 109.03. Further rise is expected to 61.8% retracement of 149.76 to 109.03 at 134.20. Sustained break there will pave the way to key long term resistance zone at 141.04/149.76. Medium term outlook will remain bullish as long as 124.08 resistance turned support holds. However, firm break of 124.08 will argue that rise from 109.03 is completed and turn outlook bearish.

    EUR/JPY 4 Hours Chart

    EUR/JPY Daily Chart

    EUR/GBP Daily Outlook

    Daily Pivots: (S1) 0.9177; (P) 0.9207; (R1) 0.9253; More

    Intraday bias in EUR/GBP remains on the upside as rise from 0.8312 is in progress for testing 0.9304 high. At this point, there is still is no clear sign of up trend resumption yet. Hence, we'll be cautious on strong resistance from 0.9304 to limit upside and bring another fall. But firm break of 0.9304 will confirm up trend resumption and pave the way to 0.9799. On the downside, below 0.9159 minor support will turn intraday bias neutral first.

    In the bigger picture, price actions from 0.9304 are viewed as a medium term corrective pattern. It's uncertain whether it is finished yet. But in case of another fall, we'd expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside and bring rebound. Whole up trend from 0.6935 is expected to resume after consolidation from 0.9304 completes. In that case, 2008 high at 0.9799 will be the next target.

    EUR/GBP 4 Hours Chart

    EUR/GBP Daily Chart

    EUR/AUD Daily Outlook

    Daily Pivots: (S1) 1.4873; (P) 1.4920; (R1) 1.4983; More...

    Intraday bias in EUR/AUD remains neutral for the moment. On the upside, above 1.5019 will resume the rise from 1.4421 and target a test on 1.5226 high. On the downside, below 1.4732 will extend the consolidation from 1.5226 with another fall. But we'd expect 1.4421 cluster support (50% retracement of 1.3624 to 1.5226 at 1.4427) to hold and bring rebound.

    In the bigger picture, we're holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. The corrective structure of the fall from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

    EUR/CHF Daily Outlook

    Daily Pivots: (S1) 1.1376; (P) 1.1399; (R1) 1.1422; More...

    Intraday bias in EUR/CHF remains neutral as consolidation from 1.1537 is still in progress. On the upside, break of 1.1477 resistance will argue that the consolidation from 1.1537 has completed and larger rise is resuming. However, firm break of 38.2% retracement of 1.0830 to 1.1537 at 1.1267 will extend the correction to 61.8% retracement at 1.1100 before completion.

    In the bigger picture, firm break of 1.1198 key resistance confirms resumption of the long term rise from SNB spike low back in 2015. In this case, EUR/CHF would eventually head back to prior SNB imposed floor at 1.2000. For now, this will be the favored case as long as 1.1087 resistance turned support holds.

    AUD/USD Daily Outlook

    Daily Pivots: (S1) 0.7885; (P) 0.7900; (R1) 0.7919; More...

    Intraday bias in AUD/USD remains neutral at this point. Correction from 0.8065 might extend. But downside should be contained by 0.7785 cluster support (38.2% retracement of 0.7328 to 0.8065 at 0.7783) to bring rebound. Above 0.7962 will target a test on 0.8065 resistance first. Firm break of 0.8065 will resume the medium term rise and target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335.

    In the bigger picture, rise from 0.6826 medium term bottom is still in progress. At this point, there is no confirmation of trend reversal yet and we'll continue to treat such rebound as a corrective pattern. But in any case, break of 55 month EMA (now at 0.8097) will target 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Break of 0.7328 support is needed to confirm completion of the rebound. Otherwise, further rise is now in favor.

    AUD/USD 4 Hours Chart

    AUD/USD Daily Chart

    USD/CAD Daily Outlook

    Daily Pivots: (S1) 1.2527; (P) 1.2562; (R1) 1.2585; More....

    Intraday bias in USD/CAD remains neutral for consolidation above 1.2525 temporary low. Deeper fall is expected as long as 1.2690 minor resistance holds. Below 1.2525 will target 1.2412 first. Break there will resume the larger decline and target next long term fibonacci level at 1.2048. On the upside, above 1.2690 will extend the correction from 1.2412 with another rise. But we'd expect upside to be limited by 38.2% retracement of 1.3793 to 1.2412 at 1.2940 to bring fall resumption eventually.

    In the bigger picture, price actions from 1.4689 medium term top are seen as a correction pattern. Such corrective fall is still expected to extend to 50% retracement of 0.9406 to 1.4869 at 1.2048. At this point, we'd look for strong support from there to contain downside and bring rebound. Nonetheless, on the upside, sustained break of 1.2968, 38.2% retracement of 1.3793 to 1.2412 at 1.2940 will be the first sign of completion of the correction and will turn focus back to 1.3793 key resistance.

    USD/CAD 4 Hours Chart

    USD/CAD Daily Chart

    EUR/USD Daily Outlook

    Daily Pivots: (S1) 1.1756; (P) 1.1789 (R1) 1.1840; More...

    The consolidation pattern from 1.1908 is still in progress and intraday bias remains neutral for the moment. In case of deeper fall, downside should be contained by 38.2% retracement of 1.1119 to 1.1908 at 1.1606 to bring up trend resumption. Break of 1.1846 minor resistance will argue that larger rise from 1.0339 is resuming for 1.2042 long term support turned resistance next.

    In the bigger picture, an important bottom was formed at 1.0339 on bullish convergence condition in weekly MACD. Sustained trading above 55 month EMA (now at 1.1768) will pave the way to key fibonacci level at 38.2% retracement of 1.6039 (2008 high) to 1.0339 (2017 low) at 1.2516. While rise from 1.0339 is strong, there is no confirmation that it's developing into a long term up trend yet. Hence, we'll be cautious on strong resistance from 1.2516 to limit upside. But for now, medium term outlook will remain bullish as long as 1.1295 support holds, in case of pull back.

    EUR/USD 4 Hours Chart

    EUR/USD Daily Chart