USD/CHF Continued bullish consolidation.
USD/CHF is pushing higher but the technical structure suggests further weakness. Hourly resistance can be found at 0.9771 (09/06/2017 high). Strong resistance is given at 1.0107 (10/04/2017 high). Hourly support is given at 0.9553 (30/06/2017 low). Expected to show continued bearish pressures.
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 Consolidating around 1.3000.
USD/CAD is way into bearish mode. Support is given at 1.2965 (30/06/2017 low). Resistance is located at 1.3014 (02/15/2017). Expected to show continued downside pressures.
In the longer term, the pair lies in a bullish channel since a year. 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 Strong decline.
AUD/USD’s technical structure is bullish since early May. Recovery bounce near former resistance at 0.7636 is gaining momentum. The pair has lost around 80 pips yesterday. Expected to see further consolidation after such a move. A break of support at 0.7520 (09/06/2017 low) would indicate a trend reversal.
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.
