Yann Quelenn
Swissquote Bank Ltd
USD/CHF
Trading sideways.
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USD/CHF is now moving sideways. Key support is given at the parity. Hourly resistance lies at 1.0205 (30/11/2016 high). Expected to see further monitoring of the resistance area around 1.0200.
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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.
USD/CAD
Strong weakness.
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USD/CAD has exited downtrend channel. Closest resistance lies at 1.3589 (14/11/2016 high). Expected to see continued weakening towards support at 1.3265.
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In the longer term, there is a golden cross with the 50 dma crossing the 200 dma indicating further upside pressures. Strong resistance is given at 1.4690 (22/01/2016 high). Long-term support can be found at 1.2461 (16/03/2015 low).
AUD/USD
Consolidating.
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AUD/USD is still experiencing some weakness. Hourly support is given at 0.7311 (21/07/2016 low) whiles stronger support can be found at 0.7145 (24/05/2016 low). Expected to see further weakness as buying pressures seem to fade around 0.7500.
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In the long-term, we are waiting for further signs that the current downtrend is ending. Key supports stand at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8295 (15/01/2015 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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