USD/CHF Buying pressures are fading.
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 Wide-open for further downside moves.
USD/CAD is way into bearish mode. Support given at 1.2965 (30/06/2017 low) has been broken. 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 Ready for another leg higher.
AUD/USD’s technical structure is bullish since early May. The pair should further head towards resistance at 0.7712 (30/06/2017 high). However, 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.
