AUD/USD: Riding symmetrical triangle.
|USD/CHF
False breakout of support at 0.9814.
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USD/CHF continues to push lower after failing to break resistance given at 1.0107 (10/04/2017 high). Support located at 0.9814 (27/03/2017 low) has been broken but the pair has failed to hold below it. Expected to continue going lower.
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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.
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USD/CAD is declining declined after failing to reach 1.3800 before bouncing back. Hourly support can be found at 1.3411 (24/04/2017 high) then 1.3353 (20/01/2017 high). Expected to show continued bearish pressures.
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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
Riding symmetrical triangle.
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AUD/USD is pushing higher since the pair monitored support at 0.7329 (09/05/2017 low). As long as prices remain below the resistance at 0.7608 (17/04/2017 high), the short-term technical structure is negative. Expected to show renewed weakness.
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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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