AUD/SGD 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Comment: AUD/SGD bottomed out on Sep 4 at 0.9830, and since then the currency pair has been forming a upward-sloping channel. Accordingly, the outlook is bullish. However, in the short term the downside risks are substantial because of the mixed technical indicators and proximity to solid resistance at 1.0120, where the upper edge of the pattern joins forces with the Aug 28 high. The price is therefore likely to decline down to a dense demand zone around 0.9974, where we have the rising support trend-line together with the weekly pivot point and 200-hour SMA, before surpassing 1.0120. In the meantime, the SWFX sentiment is strongly bullish: right now 71% of open positions are long.
© Dukascopy Bank SA
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Thu, 17 Sep 2015 05:32:52 GMT

AUD/CAD 1H Chart: Channel Up

AUD/CAD is currently having trouble with passing through resistance at 0.95. Nevertheless, the base case scenario is a close above the August 28 high, which in turn will pave the way for an extension of a rally in the direction of the upper boundary of the channel. Alternatively, in case the green trend-line falls under the attack of the bears,

Wed, 16 Sep 2015 13:33:05 GMT

CHF/JPY 4H Chart: Channel Down

CHF/JPY is testing the northern boundary of the bearish pattern now, but bulls are unlikely to succeed in penetrating this important resistance, which is reinforced by 100 and 200-period SMAs from above. On the other hand, the pair should also find it difficult to escape the vicinity of major levels surrounding the spot price. In case bears eventually push CHF/JPY

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