USD/CAD: Monitoring resistance at 1.2667

Yann Quelenn Swissquote Bank Ltd

USD/CHF

Lack of follow-through.

USD/CHF has been very volatile lately. The technical structure indicates further downside risks. The pair has failed to hold consistently above the parity. The road is wide-open for further decline.
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

Monitoring resistance at 1.2667.

USD/CAD is approaching hourly support lies at 1.2667 (10/11/2017 low). Hourly resistance stands at 1.2917 ( 27/10/2017 high).Expected to show further bearish 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.

AUD/USD

Riding downtrend channel.

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 0.7535 (22/06/2017 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.

Author

Yann Quelenn

Swissquote Bank Ltd

Yann Quelenn is a Market Analyst at Swissquote Bank with strong technical and financial background. Previously, he worked as FX Trader at Banque Privée Edmond de Rothschild and as Portfolio Manager at Polaris Investment in Luxembourg.

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