Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
Canadian Dollar Forecast: AUD/CAD, CAD/CHF Nearing Key Levels

Canadian Dollar Forecast: AUD/CAD, CAD/CHF Nearing Key Levels

Thomas Westwater,
What's on this page

Canadian Dollar, AUD/CAD, CAD/CHF - Talking Points


The Canadian Dollar is seeing inflows on rising crude oil prices this week. WTI prices are over 26% higher for November. Overall improvements in market sentiment on vaccine headlines have boosted the commodity as the economic outlook cleared. The lift in energy prices is well reflected across oil-sensitive Canadian Dollar currency pairs.

AUD/CAD Outlook:

The Australian Dollar continues to gain against the Canadian Dollar despite the rise in WTI. The move higher is partly explained by the risk-sensitive Aussie, reflecting current upbeat market sentiment amid Covid vaccine headlines and improving economic outlook prospects.

AUD/CAD recently saw a bullish technical signal form with the 20-day Moving Average (MA) crossing above its 50-day one. The pair has now cleared the October closing high and is aiming to test the lower end of a resistance range seen from July to September of this year. However, previously tested trendline resistance from the 2018 swing high may challenge further movement to the upside.

AUD/CAD Daily Price Chart


Chart created with TradingView

CAD/CHF Outlook:

The Canadian Dollar is faring much better against the anti-risk Swiss Franc. Unlike the Aussie, safe-haven outflows from the Franc appear to be having a bullish impact on CAD/CHF as traders unwind safety-linked assets. The compounding effect from the risk-on mood and rising oil prices will likely be a short-to-mid-term boon for the pair.

Earlier this month, CAD/CHF climbed above its 200-day MA. Now, with the 50-day MA on the move higher, a Golden-Cross appears to be nearing formation. The pair has also been trading within a Symmetrical Triangle and is approaching the upper range of the pattern. A move higher would likely signal a breakout and bolster bullishness.

CAD/CHF Daily Price Chart


Chart Created with TradingView


--- Written by Thomas Westwater, Analyst for

To contact Thomas, use the comments section below or @FxWestwater on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.