USDCAD: Approaching resistance at 1.2959



  • 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.

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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.




Heading higher.

  • 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.


This report has been prepared by AC Markets 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 AC Markets personnel at any given time. ACM 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.