Peter A Rosenstreich
Swissquote Bank Ltd
USD/CHF
Rising back.
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USD/CHF ended its short-term downward trend, heading for further rise along 0.93. 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 now reached. 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
Increasing.
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USD/CAD gains strength back after slowing down its descent. The pair heads toward the range of 1.26. Hourly resistance is maintained at 1.2748 (24/11/2017 high) and support is given at 1.2251 (31/01/2018 low). The technical structure indicates that further short-term rise 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 its 200 DMA.
AUD/USD
Slowly weakening.
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AUD/USD is slightly falling after its short-term bullish momentum and remains near hourly resistance at 0.7999 (17/01/2018 high). Hourly support remains at 0.7638 (15/12/2017 low). The technical structure suggests further short-term upside moves.
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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.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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