USDCAD: Consolidating above 1.2550.
|USD/CHF
Selling pressures increase.
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USD/CHF is weakening following yesterday's sideways trading. The declining trend line remains intact, heading towards resistance at 0.9257 (01/02/2018 low). Hourly resistance stands at 0.9559 (24/01/2018 high) while further resistance remains at 0.9668 (17/01/2018 high).
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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. Support at 0.9259 (24/08/2015 low) is attainable. Key support remains 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
Consolidating above 1.2550.
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USD/CAD trades at the 1.2570 range, slightly above 1.2550. The pair lies between hourly resistance at 1.2748 (24/11/2017 high) and support given at 1.2480 (20/10/2017 low). The technical structure indicates that further shortterm side trading is expected.
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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 pairs is trading below 200 DMA.
AUD/USD
Strengthening further.
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AUD/USD bounced back at 0.7759 (09/02/2018 low) and continues its ascent, heading toward resistance at 0.7884 (19/10/2017 high). Hourly support remains at 0.7638 (15/12/2017 low). The technical structure suggests further short-term increase.
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In the long-term, the upward trend resumes 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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