Important CHF Pairs’ Technical Overview: 28.02.2018

Important CHF Pairs’ Technical Overview: 28.02.2018


While pullback from 0.9320 seems presently paving the way for USDCHF’s up-moves to 0.9465-70, its further advances might be challenged by the pair’s inability to surpass the same region so far in 2018. If prices manage to close beyond 0.9470 on a D1 basis, the 50-day SMA level of 0.9540, the 0.9570 and nearly three-month old descending TL, around 0.9635, could entertain the buyers. Should the quote reverses from current levels, the 0.9385, the 0.9350 and the 0.9320 are likely nearby supports that it could avail before testing the 0.9285 figure. Moreover, pair’s extended downturn beneath the 0.9285 may take a halt near 0.9255 prior to revisiting the 0.9185 support.


GBPCHF is another CHF pair which has recently risen up, as shown by ascending trend-channel, but may find it hard to extend the recovery due to nearness of immediate resistance, the fortnight-long trend-line, at 1.3130, in this case. Given the pair manage to clear the 1.3130 mark, the 1.3145 and the channel-resistance number of 1.3195 could appear in Bulls’ minds as follow-on targets, breaking which 1.3240 and 1.3285 might please the optimists. Meanwhile, break of channel-support, at 1.3035 now, can trigger the pair’s fresh south-run in direction to 1.2990 and then to the 1.2960 whereas the 1.2930, the 1.2910 and the 61.8% FE level of 1.2865 can appear in Bears’ radar then after.


With a short-term symmetrical triangle restricting the AUDCHF moves, the pair has to break either 0.7375 or 0.7305 in order to activate the momentum. Considering comparative strength of the CHF, chances of the pair’s downside break of 0.7305, followed by its subsequent dips to 0.7295, 0.7275 and the 0.7265 are much higher. In case if the sellers fetch the quote below 0.7265, the 0.7200 round-figure, also comprising 61.8% FE level, could become a strong support to watch. Alternatively, an upside break of 0.7375 can quickly propel the pair to 0.7400 and then to the 0.7430 ahead of pushing it in direction to 0.7460, the 0.7490 and the 0.7510. Assuming the pair’s sustained trading beyond 0.7510, the 0.7540 and the 0.7595 might be targeted while being long.


NZDCHF’s break, pullback and continuation of adjacent trend-line signals the pair’s downside towards 0.6770 and then to the 0.6735 supports; though, oversold RSI might confine its further declines. If prices refrain to respect the 0.6735, the 61.8% FE level of 0.6695 and the 0.6670 may appear as levels. On the upside, 0.6830 and the 0.6860 can be accepted as nearby resistances before reigniting the importance of 0.6885 and the 0.6925 horizontal-lines. Moreover, pair’s successful advances after 0.6925 could help the buyers to target 0.6960 and the 0.7000 round-figure.

Cheers and Safe Trading,
Anil Panchal