December 1, 2021
  • December 1, 2021

Swiss Franc Technical Analysis: AUD / CHF, CAD / CHF, CHF / JPY

By on October 28, 2021 0

Swiss Franc, CHF, AUD / CHF, CAD / CHF, CHF / JPY – Talking Points

  • AUD / CHF faces strong resistance at 0.6900 200-day moving average
  • CAD / CHF follows WTI decline, finding support around 0.7385
  • CHF / JPY is on bullish watch, clean air ahead

AUD / CHF technical analysis

The recent strength of the Australian dollar has seen AUD / CHF trade return to the 200 day moving average (MA) near 0.6900. Momentum also appears to be slowing, with the Relative Strength Index hitting lower highs since the 200-day MA was first tested on October 18. August. While the price may appear to be stagnating, confirmation of an uptrend reversal would come with a close below the ascending trendline support.

AUD / CHF daily chart

Chart created with TradingView

CAD / CHF technical analysis

CAD / CHF mirrored the recent weakness seen in the WTI spot price, which saw the pair drop to support around 0.7385. The appreciation in commodity prices has supported the pair a touching distance from annual highs. The pair briefly reached overbought status on October 12 with an RSI reading of 70.37 as price and momentum cooled in subsequent sessions. If the price holds the 0.7385 level, market participants may be looking for a further test of 0.7420, a key pivot level dating back to the end of April.

CAD / CHF daily chart

Swiss Franc Technical Analysis: AUD / CHF, CAD / CHF, CHF / JPY

Chart created with TradingView

CHF / JPY technical analysis

CHF / JPY was under scrutiny after the first bullish flag formation broke earlier in the month. The higher breakout of this flag took the pair to new annual highs above 124.00, with brief price consolidation leading to the formation of a second bullish flag. After hitting what appears to be a break up from the second bullish flag, market participants may want to be aware of the potential for further price appreciation. Since the price has already Reaching overbought territory, a stall or even a complete uptrend reversal could see a retest of the previous 2021 high at 122.771.

CHF / JPY daily chart

Swiss Franc Technical Analysis: AUD / CHF, CAD / CHF, CHF / JPY

Chart created with TradingView

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— Written by Brendan Fagan, intern

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