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TECHS: Swissie Under Pressure

CHF

The Swiss Franc has been under pressure this week and some key reversal patterns and price breakouts suggest more of the same is likely near-term.

  • USDCHF: Bullish engulfing candle on Nov. 9.
    • Key resistance to watch: 0.9208, Nov 2 high.
  • EURCHF: Strong rally Monday extends bounce off the Nov 4 low.
    • Key resistance is at 1.0878, Sep 1 high to 1.0916, Jun 5 high.
  • GBPCHF has rallied sharply high with Sterling also firmer this week.
    • Watch key resistance is at 1.2223/60, Sep 1 and Jun 5 highs.
  • AUDCHF is approaching key resistance at 0.6713 to 0.6743, Sep 2 and Jun 5 high respectively.
  • NZDCHF has cleared 0.6298, Jun 9 high confirming a resumption of the broader recovery off the March low. This opens 0.6408, 0.50 Fibonacci projection of the Mar 19 - Jun 9 - Aug 20 price swing.
  • CADCHF is through resistance at 0.7009, Sep 8 high. This opens 0.7095, 76.4% retracement of the Jun - Jul sell-off

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