USD/CAD: Trading sideways
|USD/CHF
Exiting upward channel by the top.
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USD/CHF rise continues, heading along the 0.9730 range. The bullish pattern started from 0.9188 (16/02/2018 low) continues. The pair is contained between hourly support and resistance given at 0.9296 (05/02/2018 low) and 0.9770 (12/01/2018 high). The technical structure suggests short-term sideways trading moves.
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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 lies at 0.9072 (07/05/2015 low) while resistance at 1.0344 (15/12/2016 high) is distanced. The technical structure favours a long term bullish bias since the unpeg in January 2015.
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USD/CAD
Trading sideways.
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USD/CAD recovery phase from 1.2528 low pauses, starting a bearish consolidation at the 1.2665 range. Hourly support and resistance are given at 1.2504 (06/02/2018 low) and 1.2755 (22/02/2018 high). The short-term technical structure suggests short-term sideways trading moves.
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In the longer term, the pair is trading between resistance point at 1.3805 (05/05/2017 high) and support at 1.2128 (18/06/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head lower. The pair is trading above its 200 DMA.
AUD/USD
Approaching 0.77.
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AUD/USD short-term momentum stops, the pair is heading lower, along the 0.7705 range. The pair is trading at December low. Hourly support and resistance are given at 0.7638 (15/12/2017 low) and 0.7979 (15/01/2018 high). The technical structure suggests short-term downward moves.
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In the long-term, the upward trend slows down after failing to reach key resistance at 0.8164 (14/05/2015 low). Key support 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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