Technical Overview Of USD/CHF, GBP/CHF, AUD/CHF & NZD/CHF: 26.07.2017


USDCHF’s break of immediate descending trend-channel presently enables the pair to confront the 0.9590 horizontal-line, breaking which 0.9600 and the 0.9650 may act as following resistances before propelling the quote to eight-week long downward slanting TL, at 0.9680. Given the pair’s ability to surpass 0.9680, the 0.9700 could become an intermediate halt ahead of pushing buyers to target 0.9740 and the 0.9770 resistances. On the contrary, the 0.9540 and the 0.9500 seem nearby supports for traders to watch, breaking which the pair can drop to 0.9475. During the pair’s additional downside after 0.9475, recent low around 0.9435 and the channel support-line of 0.9400 might try disappointing Bears.



Having bounced from a medium-term ascending trend-line, GBPCHF’s further recovery seems challenged by the 200-day SMA level of 1.2510, which if cleared could help extend the up-moves to 1.2545-50 and then to the 1.2600 round-figure. However, the 1.2650-60 region might confine the pair’s follow-on advances, failing to which can please Bulls with 1.2730, 1.2800 and the 1.2860 consecutive resistances. In case if prices fail to surpass 1.2510 on a daily closing basis, chances of witnessing a pullback to 1.2415 and then to the 1.2365 become brighter. Though, aforementioned TL support, at 1.2270 now, could restrict the pair’s additional downside, breaking which might flash the 1.2210 and the 1.2100 numbers on sellers’ radar.



With a successful bounce from a three-week old ascending trend-line, the AUDCHF now aims for 0.7600 round-figure before challenging the current-month high of 0.7625. Given the quote’s capacity to break 0.7625 resistance-mark, it can aim for 61.8% FE level of 0.7680 and the 0.7700 round-figure while 0.7725 and the 0.7760 can entertain buyers then after. Alternatively, 0.7540 and the 0.7515 TL could offer adjacent supports to the pair, breaking which 0.7465 and the 0.7430-25 may appear on the chart. In case of the pair’s sustained downturn after 0.7425, the 0.7390 and the 0.7345 should be watched carefully.



NZDCHF recently broke a downward slanting trend-line, at 0.7095 now, and is rising towards June month high of 0.7140. However, overbought RSI may try limiting the pair’s further upside around then, failing to which can propel prices to 61.8% FE level of 0.7200 ahead of registering 0.7230 resistance as quote. Meanwhile, a dip below 0.7095 could negate the latest breakout and might again drag the pair to 0.7070 and the 0.7040 supports before reigniting the importance of a bit longer ascending trend-line support 0.7015. Should the pair drops below 0.7015, also clears 0.7000 psychological magnet, chances of its extended southward trajectory to 0.6940 and then to 0.6900 can’t be denied.

Cheers and Safe Trading,
Anil Panchal