Sideways price action.
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.
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.
Starting to bounce back.
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.
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.
Breaking descending triangle.
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).
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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