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Technical Overview of USD/CHF, CHF/JPY, AUD/CHF & NZD/CHF: 05.04.2018

By:
Anil Panchal
Published: Apr 5, 2018, 11:54 UTC

USD/CHF USDCHF’s six-week old gradual up-moves might fade soon as not only 100-day SMA level of 0.9610 & the ascending trend-channel resistance, at

Technical Overview of USD/CHF, CHF/JPY, AUD/CHF & NZD/CHF: 05.04.2018

USD/CHF

USDCHF’s six-week old gradual up-moves might fade soon as not only 100-day SMA level of 0.9610 & the ascending trend-channel resistance, at 0.9645, are there to challenge the nearby upward bias but the 0.9655, comprising 200-day SMA, and 0.9660-65 horizontal-region also stand tall to play their roles. Even if the pair manages to surpass the 0.9665 mark on a daily closing basis, five-month old descending TL, at 0.9700, could offer another strong resistance for the buyers to tackle. As a result, pair’s pullback to 0.9570 and then to the 0.9520 become quite expectable but support-line of the channel, around 0.9475, may limit following downside. Given the pair’s decline beneath the 0.9475, the 0.9420 and the 0.9350 are likely supports that might gain traders’ attention.

CHF/JPY

Having failed to sustain its uptick beyond month-long downward slanting trend-line, the CHFJPY again trades above the same resistance-line, which in-turn signals brighter chances of the pair’s advances to 111.60 and 111.75 immediate barriers ahead of confronting the 112.05-10 horizontal-area. Should prices conquer the 112.10 level, the 112.30, the 112.55 and the 112.70 may question subsequent rise before highlighting the 113.20 level. Meanwhile, the resistance-turned-support line, at 111.00, can provide adjacent rest to the pair, breaking which 110.85 and the 110.60 may become sellers’ concern. If at all the quote continues trading south after 110.60, the 110.30 and the 61.8% FE level of 110.00 should be observed closely.

AUD/CHF

AUDCHF’s U-turn from more than two-month old descending trend-line may drag the pair to 0.7350 but an upward slanting TL, at 0.7325, can confine its further downside. Assuming the pair’s break of 0.7325, it might not hesitate revisiting the 0.7300, the 0.7280 and the 0.7260 supports ahead of taking rest on the recent low of 0.7240. Alternatively, successful clearance of 0.7415 trend-line resistance can accelerate the pair’s recovery towards 0.7445 and then to the 0.7475-80 zone. Additionally, break of 0.7480 could open the door for the pair’s north-run to 0.7510 and 0.7540 resistances.

NZD/CHF

Even if overbought RSI seems fetching the NZDCHF back from its latest trend-line break, pair’s ability to close above yesterday’s high of 0.7020 may help it aim for one more TL figure of 0.7055. Moreover, Bulls’ capacity to cross the 0.7055 mark on a daily closing basis could push them to target 0.7090 and 0.7130 numbers. On the contrary, pair’s close below the 0.6990 TL can reignite the importance of 0.6970 and the 0.6950-55 support-region. Given the quote’s break of 0.6950, the 200-day SMA level of 0.6930, the 0.6900 and the 0.6870, encompassing 100-day SMA, might please the Bears.

Cheers and Safe Trading,
Anil Panchal

About the Author

An MBA (Finance) degree holder with more than five years of experience in tracking the global Forex market. His expertise lies in fundamental analysis but he does not give up on technical aspects in order to identify profitable trade opportunities.

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