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Technical Updates For AUDUSD, EURAUD, GBPAUD And AUDJPY – 04.01.2017

MTrading

AUDUSD
<img style="margin: 10px;" src="https://s23.postimg.org/72tt7lzff/AUDUSD.png
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AUDUSD's U-turn from 0.7165-60 horizontal-support couldn't clear 0.7280-85 resistance-line and is likely declining towards 0.7245 and the 61.8% FE level of 0.7230 supports. If the pair stretches the pullback below 0.7230, the 0.7200 round figure and 0.7180 may offer intermediate halts ahead of dragging it again to 0.7165-60. In case prices fail to respect 0.7160, pair's fresh downward trajectory towards 100% FE level of 0.7060 becomes active wherein 0.7100 might provide breathing space during the sell-off. On the upside, a clear break of 0.7285 still has to surpass 0.7315 in order to aim for 0.7365. However, its additional advances beyond 0.7365 may find it hard to break 0.7395 – 0.7400 resistance-confluence, including two-month old descending trend-line and 38.2% Fibonacci Retracement level.

EURAUD

Ever since the EURAUD's defeat from 1.4720-25 resistance-zone, the pair kept declining and recently broke 1.4425-30 horizontal-line, which in-turn signal its further south-run to 1.4330, 1.4310 and the 1.4285-80 rest-line area. During the pair's additional drop below 1.4280, the 1.4245 and the 1.4200 can entertain Bears prior to offering them sub – 1.4100 region. In case if prices reverse from present levels, 1.4400 becomes an immediate resistance to look at before the 1.4425-30 and the 1.4445 come into play. If the quote successfully clear 1.4445 descending trend-line, it can flash 1.4470 and the 1.4515 on the chart.

GBPAUD
<img style="margin: 10px;" src="https://s27.postimg.org/7swb7wfqr/GBPAUD.png
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GBPAUD's break of 1.6900 support, including short-term ascending trend-line and 23.6% Fibonacci Retracement of May – October downturn, presently struggles to break 100-day SMA level of 1.6820 in order to please sellers with 1.6710 – 1.6700 region. Given the prices decline below 1.6700, the 1.6540 and the 1.6370 are likely consecutive rests that can be availed during its journey to meet 1.6100 round figure mark. Meanwhile, pair's daily closing above 1.6900 could negate it recent breakdown by portraying 1.6970 and the 1.7120 on the chart. Though, more than six-month old descending trend-line, at 1.7200 now, may disappoint Bulls, which if broken could help the quote to visit 1.7350-60 resistance-area.

AUDJPY

Considering the AUDJPY's recent reversal from nearly 19-month old descending trend-line, the pair forms a possible Break-Pullback-Continuation (BPC) pattern, which in-turn favors its gradual upside to 86.50 and then to 50% Fibonacci Retracement of 2014-16 south-run, at 87.65. However, the 89.00 – 89.20 horizontal-line could limit its additional advances beyond 87.65, which if broken can fuel the quote to capture 90.00+ region. Alternatively, 84.50 and the 38.2% Fibo level of 84.00 can be witnessed during the pair's short-term pullbacks before it could test 83.50 broader TL and 50-day SMA level of 83.20. In case of the daily price close below 83.20, the 82.60 and the 81.50 are likely downside figures to watch for traders.

Cheers and Safe Trading,
Anil Panchal

Source: https://www.mtrading.com/analytics/technical-analysis/technical-updates-for-audusd-euraud-gbpaud-and-audjpy-04-01-2017
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