AUD/CHF is trading within a long-term downtrend. Now there’s scope for a bullish correction.
Tag - chf
USD/CHF fell to the lowest levels in almost a year. The pair slid below the June low at 0.9695.
CHF/JPY has recently broken below the support line from May lows.
Where will CAD/CHF go?
It turns out that the Swiss National Bank is buying foreign currency in order to limit the appreciation of the CHF.
USD/CHF looks like it has more scope for downside: the pair hasn’t reached support yet.
USD/CHF shot up last week from the 200- and 100-week MAs in the 0.9840/50 area.
Technical analysis of CAD/CHF
EUR/CHF broke below 1.1150 - the lower border of the sideways range within which it has been trading since the middle of 2018.
The pair may hold at the support in the 0.9820 area for some time and try to test levels around 0.9870/90.
It seems that EUR/CHF is having trouble with returning above 1.1150 (61.8% Fibo of the 2017-2018 advance; 50-month MA).
NZD/CHF formed a bearish candlestick with a long lower shadow on W1.