06.06.201405:48 Forex Analysis & Reviews: Forecast for USD/CAD and USD/CHF for June 06, 2014

Long-term review

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USD/CAD

The pair paused its rally at the 61.8 fib level and closed below the 50-day SMA. Today in Asia's session the pair opened on a bearish note. On the down side, the pair has support at 1.0917 and 1.0907 levels. On the upside, the pair has strong resistance levels at 1.0940 and 1.0960 levels. The "selling the rally" is the best strategy for next 2-3 sessions. Traders can enter shorts below 1.0917 with targets at 1.0907, 1.09, 1.0891 and 1.0885 levels.

USD/CHF

We have been recommending to sell this pair with sl 0.90 levels on a closing basis. Yesterday, it made a high at 0.9037 levels and closed at the lower levels. On the down side, the pair has strong support at 0.8880, below that, 0.8870 and 0.8860 levels. Until the pair closes above 0.90 levels, please hold shorts. For intraday basis, the pair has strong support between 0.8906-0.8881 levels.

Again sell below 0.8880 for targets at 0.8870, 0.8860, and 0.8830 levels.

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