USD/CHF is showing further signs of bearish pressure. The pair currently trades between hourly support and resistance at 0.9296 (05/02/2018 low) and 0.9668 (17/01/2018 high). Expected to show short-term decrease.
In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support lies 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.
Approaching resistance at 1.2959.
USD/CAD has bounced off 1.2805 low, heading for hourly resistance at 1.2998 (05/03/2018). Hourly support remains at 1.2805 (12/03/2018 low). The short-term technical structure suggests further short-term increase.
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 above its 200 DMA.
AUD/USD's momentum recovers, approaching the 0.7930 range. Hourly resistance is given at 0.7979 (15/01/2018 high). Further support and resistance are given at 0.7704 (24/12/2017 low) and 0.8134 (26/01/2018 high). The technical structure suggests short-term upward moves.
In the long-term, the upward trend slows down 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.
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