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Technical Update: USDCHF, AUDCHF And NZDCHF


With 1.0205 – 1.0215 horizontal support aptly limiting the USDCHF's immediate decline, chances of its bounce to 1.0290 and then to 1.0320 are much brighter before it can again conquer with 1.0340. In case if the pair manage to extend its north-run beyond 1.0340, 61.8% FE level of 1.0415 and the channel resistance-line of 1.0435 are following important upside figures to watch for traders. Alternatively, pair's drop below 1.0205 need to break ascending trend-channel support, at 1.0190, in order to indicate 1.0150 and the 1.0100 supports. During the pair's sustained dip below 1.0100, the 1.0040-35 line might provide a boost to it, failing to which could make the quote vulnerable enough to test 0.9940 and the 0.9890 downside numbers.


AUDCHF's U-turn from 0.7620-25 seems finding it hard to break 200-day SMA level of 0.7375, which favor the pair's bounce to 0.7415 and to the 0.7470. Should prices surpass 0.7470, the 0.7550 and the 0.7575 may offer intermediate halts prior to fueling them towards 0.7620-25. If Bulls manage to propel the quote beyond 0.7625, it becomes capable enough to aim for 0.7700 round figure resistance. Meanwhile, pair's closing break below 0.7375 could accelerate its south-run towards 38.2% Fibonacci Retracement level of it February – October upside, at 0.7310, and then to 0.7240 supports. Moreover, pair's extended drop below 0.7240 opens the door for its plunge to 0.7200 and the 0.7130.


While two-month old ascending trend-line triggered NZDCHF bounce, it becomes wise to expect the pair's extended recovery towards 0.7095 and then to 0.7115. However, 0.7130-35 horizontal-line may limit the pair's following upside, breaking which it could aim for 0.7170, 0.7195 and the 0.7215 before confronting with 0.7230-35 resistance-line. If at all buyers manage to fuel prices beyond 0.7235, they may eye 0.7275 and the 0.7300 resistances. On the downside, 0.7060 acts as immediate support for the pair before it could re-test 0.7050 support-line, which if broken may drag the prices to 0.7010 and then to 0.6975. In case of the pair's additional drop below 0.6975, the 0.6950 and the 0.6900 could entertain sellers.

Cheers and Safe Trading,
Anil Panchal

Friday, 23 Dec, 2016 / 11:41

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