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24/08/2017

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24/08/2017

Riding downtrend channel.

• AUD/USD's short-term technical structure is
bearish. Hourly support can be found at 0.7786
(18/07/2017 low). Hourly resistance is given at
0.8066 (27/07/2017 high). Expected to edge
lower within downtrend channel.

• 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.

24/08/2017

Continued short-term weakness.

• USD/CAD is having some weakness. Hourly
support is given at a distance at 1.2414
(27/07/2017 low). Expected to show continued
short-term bearish move.

• In the longer term, the pair has broken longterm
support that can be found at 1.2461
(16/03/2015 low) before bouncing back. Strong
resistance is given at 1.4690 (22/01/2016 high).
The pair should head further lower.

24/08/2017

Sideways price action.

• USD/CHF is trading mixed. Higher resistance is
given at 0.9771 (15/06/2017 high). Hourly support
lies at at 0.9584 (08/11/2017 low). Expected to
show growing upside 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.

24/08/2017

Selling pressures increase.

• USD/JPY's volatility is growing. The pair is
likely to head back towards former support at
108.13 (17/04/2017 low). Expected to show
another leg lower.

• We favor a long-term bearish bias. Support is
now given at 96.57 (10/08/2013 low). A gradual
rise towards the major resistance at 135.15
(01/02/2002 high) seems absolutely unlikely.
Expected to decline further support at 93.79
(13/06/2013 low).

24/08/2017

Heading lower.

• GBP/USD continues to move lower. Hourly
resistance is given at 1.2917 (18/08/2017 high).
Hourly support at 1.2812 (12/07/2017 low) has
been broken. Expected to show continued
bearish pressures.

• The long-term technical pattern is even more
negative since the Brexit vote has paved the way
for further decline. Long-term support given at
1.0520 (01/03/85) represents a decent target.
Long-term resistance is given at 1.5018
(24/06/2015) and would indicate a long-term
reversal in the negative trend. Yet, it is very
unlikely at the moment.

24/08/2017

Ready to bounce lower.

• EUR/USD short-term bullish pressures are
slowing down. Hourly resistance can be found at
1.1910 (02/08/2017 high) while hourly support
lies at 1.1613 (26/07/2017 low). Expected to show
renewed bearish pressures.

• In the longer term, the momentum is now
turning largely positive. We favour a continued
bullish bias. Key resistance holding at 1.1871
(24/08/2015 high) has been broken while strong
support lies at 1.0341 (03/01/2017 low).

23/08/2017

Strong bearish retracement.

• Bitcoin is pausing after the massive surge over
the past few days. Resistance is at all-time high
at 4480 (17/08/2017 high). Hourly support lies
very far at 2403 (26/07/2017 low). The road is
wide open for another bullish move.

• In the long-term, the digital currency has had
an exponential growth. There are decent
likelihood that the asset will consolidate above
$1500. Long-term support is given at $1464
(04/05/2017 low).