Peter A Rosenstreich
Swissquote Bank Ltd
USD/CHF
Riding lower.
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USD/CHF rebounces downward after a slight increase yesterday. 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 (16/01/2018 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
Bounce maintained.
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USD/CAD remains weak as long as prices remain below the key resistance at 1.2589 (01/01/2018 high). Supports of 1.2403 (15/01/2018) is slightly distanced. Another resistance is given at 1.2624 (05/12/2017), whereas a strong support lies at 1.2356 (05/01/2018). Expected to show renewed shortterm 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 0.8025 (17/01/2018 high). Support stands at 0.7849 (12/01/2018 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.
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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