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Currency Analyst since 2010

FX BAZOOKA: technicals (Dec. 20) Part 2

USD/CHF

Bulls are dominating in the USD/CHF currency pair. The pair has recovered 38.2% from the November-December decline.

  • The pair broke above the wide bearish Ichimoku (top at 0.8970);

  • The price rose above the 100-period MA;

  • MACD histogram keeps on growing;

  • Recent break above the 0.8975 resistance opens the way to 0.9050.

Support: 0.8960, 0.8920, 0.8900/8890

Resistance: 0.9000, 0.9030, 0.9050

Chart. H4 USD/CHF

Upcoming events:

USD - 13:30 GMT - Final GDP q/q

USD - Tentative - Fed Chairman Nomination Vote

AUD/USD

AUD/USD corrected to $0.8889. The pair’s moves to the upside are slow.

  • The pair returned to the middle Bollinger band.
  • All MAs keep declining that indicates that a medium-term downtrend is well in place.
  • The prices are below the bearish Ichimoku Cloud. The Horizontal Kijun-sen at $0.8900 (blue line) provides initial resistance.

Support: $0.8820, $0.8800, $0.8755

Resistance: $0.8900, $0.8948, $0.8980, $0.9000

Chart. H4 AUD/USD

Upcoming events

USD - 13:30 GMT - Final GDP

USD - Tentative - Fed Chairman Nomination Vote

USD/CAD

As expected, USD/CAD corrected down from the highest level since 2010 at 1.0725 reached yesterday.

  1. MAs are going up. The medium-term uptrend continues.
  2. MACD went below the signal line. RSI (14) declined from the overbought area above 70 to move neutral level at 55.
  3. The prices remain above the Ichimoku Cloud which has turned bullish and is widening, though is still to gain strength. Kijun-sen, however, is still horizontal, so there’s still scope for sideways move – the bulls are currently not ready for another take-off to new highs.

Resistance: 1.0695/970, 1.0725, 1.0745

Support: 1.0650 (Kijun-sen, Bollinger Bands), 1.0635

Chart. H4 USD/CAD

Upcoming events:

CAD - 13:30 GMT - Core CPI

CAD - 13:30 GMT - Core Retail Sales

USD - 13:30 GMT - Final GDP

USD - Tentative - Fed Chairman Nomination Vote

 
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