Swiss Franc Weak Against Peers

• 4 Oct 2017

AUD/CAD

The AUD/CAD daily chart shows the pair testing both the 20-period EMA and the 0.978 price level. Momentum indicators confirm that sentiment has turned more bullish. Volume has also risen in the previous trading session indicating a rise in interest in the pair.

CAD/CHF

The CAD/CHF pair is testing the 0.778 price level which has represented a support level for the pair in the last trading week. A break of this level could send price action towards the 0.770 price level, however a previous break was not sustained. Momentum appears to be turning bearish as highlighted by the sharp downward trajectory of MACD. Volume has been declining in the last three trading sessions, so the question is whether sellers have enough conviction to drive prices lower.

GBP/CHF

The GBP/CHF pair is testing the 20-period EMA and Bollinger band mid-line, with a break potentially sending the pair close to the 38.2 Fibo level. MACD indicates that sentiment has turned bearish. RSI also has a downward trajectory, therefore a bullish reversal seems unlikely.

SILVER

Silver prices appear to be retracing somewhat after a sustained downtrend over the last month. A break above the 16.625 price level indicates that sentiment has turned which has further been confirmed by the bounce back on RSI from the 30 oversold zone.  Buyers will likely target the 17.113 price level to sustain the bullish momentum.