AUDUSD: Breaking descending triangle
|USD/CHF
Sideways price action.
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USD/CHF is consolidating lower. Yet, the technical structure is still bullish. Yet, the pair has failed to hold consistently above the parity. The technical structure suggests growing selling pressures.
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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.
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USD/CAD
Starting to bounce back.
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USD/CAD is riding higher. The technical structure suggests further strengthening towards resistance at 1.2917 (27/10/2017 low). Hourly support lies at 1.2667 (10/11/2017 low). Expected to show continued upside pressures.
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In the longer term, the pair has broken longterm support that can be found at 1.2461 (16/03/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head further lower.
AUD/USD
Breaking descending triangle.
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AUD/USD is ready to go even lower showing that downside pressures are still lively. Hourly resistance is given at a distance at 0.7897 (13/10/2017 high). Expected to show renewed pressures towards key support at 0.7571 (05/07/2017 low).
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In the long-term, the trend is turning positive. Key supports stands at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8164 (14/05/2015 high) is needed to invalidate our long-term bearish view.
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