USDCAD: Minor bounce on support
|USD/CHF
Trying to bounce.
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USD/CHF iis trying to bounce. The short-term technical structure is negative as long as prices remain below the hourly resistance at 0.9665 ( 16.01/2018). A key resistance stands at 0.9700 (02.01.2018 low). An hourly support lies at 0.9573 (intraday low).
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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
Minor bounce on support.
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USD/CAD remains weak as long as prices remain below the key resistance at 1.2589. A support stands at 1.240. Another resistance is given at 1.2624, whereas a strong support lies at 1.2356. Expected to show renewed short-term weakness.
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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
Riding higher.
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AUD/USD's upside pressures are growing. Hourly resistance is now given at 0.7979 (15/01/2018 high). Support stands at 0.7808 (09/01/2018 low). The road is wide open for further upside.
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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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