Previous analysis… https://analysis.tfxi.com/2021/03/31/triumphfx-forex-analysis-chf-pairs-april-may-june-2021/
AUDCHF – Daily Chart
Price has been bearish.
AUDCHF is down-trending and has formed a bearish channel. The moving averages are about to cross bearish, signalling that the trend could continue. Price is nearing a number of support levels, suggesting a bearish move could react to buying pressure.
Shorting opportunities may exist around the dynamic resistance of the moving averages, around the bearish channel resistance area and around the horizontal levels at 0.6900, 0.6990 and 0.7230. A bearish move may be rejected or reverse around the channel support area and around any of the horizontal levels at 0.6730, 0.6580, 0.6490 and 0.6390.
CADCHF – Daily Chart
Price reversed around 0.7260 and was bullish, as suggested in our last chart analysis.
CADCHF has since been indecisive though and has been moving sideways. The moving averages confirm the market indecision – they are tightening and are moving sideways. Price action has formed a bearish channel, suggesting potential downside.
Trading opportunities may exist around the support and resistance areas of the bearish channel, around the moving averages and around the horizontal levels at 0.6840, 0.6885, 0.7000, 0.7050, 0.7175, 0.7260 and 0.7500.
EURCHF – Daily Chart
The EURCHF has been bearish.
Price has been down-trending within a bearish channel and has recently broken below the channel support area. The daily moving averages are becoming bearish, suggesting that the downtrend may continue. The EURCHF is nearing key support levels, which could mark the end of the current downtrend. The RSI is signalling an oversold market, signalling a potential bullish move.
Opportunities to go short could exist around the previous support and resistance areas of the bearish channel, around the dynamic resistance of the moving averages and around any of the horizontal levels at 1.0870, 1.0970, 1.1000, 1.1050 and 1.1120. A bearish move may stall or reverse around the key horizontal support levels at 1.0735 and 1.0670.
GBPCHF – Daily Chart
As suggested in our last chart analysis, the GBPCHF found support around the shorter-term moving average and the 38.2% Fib level.
Price was up-trending but is currently moving sideways and looking indecisive. The moving averages confirm the market indecision – they are tightening and are moving sideways. The GBPCHF is ranging between 1.2550 and 1.2820.
Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). A break to the upside could find resistance around 1.3030. A break to the downside could find support around 1.2170 and 1.1745.
USDCHF – Daily Chart
Price has been moving sideways.
USDCHF is looking indecisive and is lacking trend momentum. The moving averages have been crossing and are moving sideways – confirming the market indecision.
Trading opportunities could exist around any of the identified horizontal levels at 0.8780, 0.8945, 0.9285 and 0.9435.
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