TriumphFX – Forex Analysis – CHF Pairs – April, May & June 2021


Previous analysis… https://analysis.tfxi.com/2020/12/23/triumphfx-forex-analysis-chf-pairs-january-february-march-2021/

AUDCHF – Daily Chart

AUDCHF Daily Chart

AUDCHF closed above the horizontal channel resistance area and has since been bullish, as suggested in our last chart analysis.

Price is up-trending – the AUDCHF has formed a series of higher swing highs and higher swing lows. The moving averages are bullish and widening and price is above the recent consolidation area, signalling that the uptrend may continue. Price is currently finding resistance around 0.7230.

Buying opportunities could exist around the trend support area, around the dynamic support of the moving averages, if AUDCHF closes above 0.7230 and around the horizontal levels at 0.6905, 0.6730 and 0.6385. Price may continue to find resistance and even reverse around 0.7230.

The Reserve Bank of Australia (RBA) continue to keep the official interest rate at the record low of 0.10%. The rate is currently forecast to stay the same until 2024. Unemployment rates are expected to over coming months. An unemployment rate of 6% is expected for the end of 2021.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The SNB are expecting economic growth from the 2nd quarter of 2021.

CADCHF – Daily Chart

CADCHF Daily Chart

As suggested in our last CHF analysis, CADCHF closed above the consolidation resistance area and has since been bullish.

Price is above the recent consolidation and the moving averages are bullish and widening, suggesting a potential uptrend. CADCHF is looking indecisive on the weekly time-frames, signalling potential indecision for the daily time-frame.

Long opportunities could exist around the dynamic support of the moving averages, around the diagonal support area and around any of the horizontal levels at 0.7450, 0.7260, 0.7175, 0.7055 and 0.6885.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The SNB are expecting economic growth from the 2nd quarter of 2021.

The Bank of Canada (BOC) continues to keep rates at the low of 0.25%. The BOC are expecting economic indicators to improve from April 2021 but have confessed that there is a great deal of uncertainty around the current pandemic and the path to economic recovery and growth.

EURCHF – Daily Chart

EURCHF Daily Chart

Price has been bullish and has swung higher, as suggested in our last CHF chart analysis.

The EURCHF is up-trending and is currently in a retrace move. The moving averages are bullish and widening, suggesting that the uptrend could continue.

Opportunities to go long may exist around any of the key Fib levels, around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 1.0880 and 1.0745. A bullish move could be rejected or reverse around the recent swing high at 1.1120.

The European Central Bank (ECB) continues to keep the official rate at the record low of 0.00%. The ECB have hinted at providing more economic stimulus, if needed.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The SNB are expecting economic growth from the 2nd quarter of 2021.

GBPCHF – Daily Chart

GBPCHF Daily Chart

As suggested in our last CHF chart analysis, price closed above the horizontal channel resistance area and has since been bullish.

GBPCHF is above the recent consolidation area, signalling a potential uptrend. The moving averages confirm this – they are bullish and widening.

Buying opportunities could exist around any of the key Fib levels, around the dynamic support of the moving averages, around the trend support area and around the horizontal levels at 1.2545 and 1.2225.

The Bank of England (BOE) continue to keep rates at the record low at 0.10%. Recent economic figures have been more positive than expected. With the rollout of vaccines and the ease of lockdowns on the horizon, the BOE expect a strong economic rebound during 2021.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The SNB are expecting economic growth from the 2nd quarter of 2021.

USDCHF – Daily Chart

USDCHF Daily Chart

The USDCHF has been bullish.

Price was down-trending but USDCHF has swung above the trend resistance area and has formed a swing higher, suggesting that the downtrend is over. The moving averages are starting to become bullish, signalling a potential uptrend.

Long opportunities may exist around the bullish moving averages and around the horizontal levels at 0.9280, 0.9025 and 0.8780. A bullish move could find resistance around 0.9500, 0.9600, 0.9760 and 0.9885.

The Federal Reserve have stated that they will do everything they can to support the US economy and to help a robust recovery. The current rate is set at 0.25% (record lows). The US economy is bouncing back quicker than expected originally.

The Swiss National Bank (SNB) continues to keep rates at the all-time low of -0.75%. The SNB recently announced that it will continue to intervene with in foreign exchange markets but will likely keep rates unchanged until 2022. The SNB are expecting economic growth from the 2nd quarter of 2021.

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