Important AUD Pairs’ Technical Update: 22.02.2017


Even if 0.7730-35 restricted AUDUSD’s up-moves during last-week, support-line of a month old ascending trend-channel, at 0.7650 now, triggered the pair’s bounce and is presently helping it to aim for the same resistance-region. If at all the quote manage to surpass 0.7735, it needs to justify buying momentum with a successful break above 0.7750 downward slanting TL, breaking which channel resistance-line of 0.7810 and 2016 high around 0.7835 comes into play. On the downside, channel-support of 0.7650 and 0.7600 round figure, comprising 23.6% Fibonacci Retracement of its January – April 2016 rally, becomes crucial to watch. Should Bears dominate prices and drag them below 0.7600, 0.7570 & 0.7525 are likely intermediate halts that can be availed before expecting the pair’s bounce from 200-day & 100-day SMA confluence region of 0.7505-10.



Unlike other AUD pairs, AUDJPY signals short-term pullback as it recently broke immediate ascending trend-channel and is indicating 86.70 & 86.50 support re-test. Given the pair’s extended downside below 86.50, the 86.30 & 86.00 can please sellers before the 85.80 support-line comes into play. If the TL fails to disappoint Bears, chances to witness southward trajectory towards 85.40 & then to 85.00 can’t be denied. Meanwhile, 87.10 & 87.40 can continue acting as adjacent resistances, breaking which 87.50 horizontal-line and 87.60 channel resistance should be observed closely. Should the pair clears 87.60, it becomes capable enough to challenge 88.20 & 61.8% FE level of 88.55.



On Wednesday, the AUDCAD successfully cleared 1.0090 – 1.0100 horizontal-line and is progressing towards 1.0150 resistance before meeting 61.8% FE of its latest moves at 1.0165. During the pair’s additional upside beyond 1.0165, the 1.0220 & 1.0270 might act as buffer before 1.0300 grabs market attention. In case if the pair closes below 1.0090, an upward slanting trend-line support of 1.0045 becomes important, breaking which 0.9985 & 100-day SMA level of 0.9970 can please sellers. Should the pair keep declining below 0.9970, it becomes wise to expect 0.9920 & 0.9900 to appear on the chart.



AUDCHF’s gradual recovery since the start of 2017 enabled it to surpass nearly three-year old horizontal-line, around 0.7750-40. However, the pair presently confronts 200-week SMA figure of 0.7775, which if conquered on a closing basis, could trigger its north-run towards 0.7860 & 0.7920 resistances. If at all the quote manages to break 0.7920, the 0.8000 psychological mark can become buyers’ favorite. Alternatively, the pair’s pullback from the current levels can re-ignite importance of 0.7750-40, breaking which 0.7700 & the 0.7670 might follow the downturn. Should prices continue declining below 0.7670, the 0.7590 & 0.7540 are likely supports to be observed.

Cheers and Safe Trading,
Anil Panchal