USDCAD: Middle of rising channel

Peter A Rosenstreich Swissquote Bank Ltd

USD/CHF

Slight break of rising channel.

USD/CHF has breached the channel support at 0.9724 However, prices have thus failed to hold below that level and a key support stands at 0.9712. The break of the hourly resistance at 10.9741 (11/10/2017 high) suggests an improving short-term buying interest. Expected to show continued bullish pressures within uptrend channel.
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

Middle of rising channel.

USD/CAD continues to bounce within uptrend channel. Strong support is located at a distance at 1.2062 (08/09/2017 low). Hourly support lies at 1.2331 (26/09/2017 high). Resistance is given at 1.2663 (31/08/2017 high). Expected to show continued short-term bullish pressures within uptrend channel.
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

Strong bullish momentum.

AUD/USD is strengthening breaking above rising channel top. Next resistance is given at 0.7875 (04/10/2017 high). Support lies at at 0.7733 (06/10/2017 low). Expected to show continued increase.
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

Peter A Rosenstreich

Swissquote Bank Ltd

Peter Rosenstreich is Swissquote Bank’s Head of Market Strategy and manages the global strategy desk; he has held various positions in several banking institutions in the United States, Europe & Asia.

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