Swiss Franc Technical Analysis: GBP/CHF, AUD/CHF, CHF/JPY Technical Setups

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Swiss Franc, CHF, GBP/CHF, AUD/CHF, CHF/JPY – Talking Points

  • GBP/CHF fails at 50-day moving average (DMA), downtrend remains intact
  • AUD/CHF remains channel-bound, price action remains choppy
  • CHF/JPY relative strength improving, breakout potential above 100 DMA

GBP/CHF Technical Analysis

For much of 2021, the GBP/CHF cross has been subject to volatile but sustained Swiss Franc strength. After a robust melt higher in January and February, the pair has remained in a sustained downtrend since the March top. Aside from a brief break in September, GBP/CHF upside has been constrained by descending trendline resistance. Price briefly attempted a test this week but was immediately swatted lower to support around 1.2580. Should 1.2580 breakdown, a support zone near 1.2500 has stood firm in recent months as a last line of defense. Upside targets in the near-term continue to be overheard trendline resistance, followed closely by the 100-day moving average.

GBP/CHF Daily Chart

gbpchf

Chart created with TradingView

AUD/CHF Technical Analysis

Similar to the GBP/CHF cross, AUD/CHF has also been in a strong downtrend for much of 2021, albeit in a much tighter range. Following a bounce in August off of yearly lows, AUD/CHF has chopped around below 0.6800, lacking any clear direction. Despite the constant gyration, prices have remained within the well-defined trend channel drawn from the March highs. The pair has recently found support in the form of the 50-day MA and may look to retest the upper bound of the channel in the near term. A breakout from the longer-term downtrend could see the cross test a key pivot zone near 0.6800 that has rejected advances on three previous occasions.

AUD/CHF Daily Chart

audchf chart

Chart created with TradingView

CHF/JPY Technical Analysis

Recent Swiss Franc strength has seen CHF/JPY bounce from recent swing lows below 118.00. Price action in October has held a key support zone above 119.00, all while relative strength has risen. Price currently remains constrained by the 100-day MA, with ascending trendline support propping up the cross from below. Should a breakout from the 100 DMA materialize, traders may look to the July swing-high above 121.00.

CHF/JPY Daily Chart

chfjpy chart

Chart created with TradingView

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— Written by Brendan Fagan, Intern

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