Swiss franc

Technical Checks For USD/CHF, GBP/CHF, CHF/JPY & CAD/CHF: 15.06.2017


USDCHF’s recovery from 0.9610 might find it hard to surpass a month-old descending trend-line, at 0.9755 now, which in-turn could fetch the pair to the 0.9700 re-test. During the pair’s additional downside below 0.9700, the 0.9690 and the 0.9670 may offer intermediate halts prior to dragging it towards the 0.9650 horizontal-line. In case if the pair fails to respect 0.9650, the 0.9610 could only become a small barrier for it to clear ahead of meeting 61.8% FE level of 0.9580. On the contrary, sustained break of 0.9755 TL enables the pair to aim for 0.9775 and the 0.9800 round-figure before targeting 0.9850-55 resistance-region. Should prices continue rising after 0.9855, it seems wise to expect 0.9890 and the 0.9915 to appear on the chart.



With the clear break of month-old descending trend-line resistance after hawkish outcome from the BoE, the GBPCHF now aims for 1.2490 ahead of targeting the 200-day SMA level of 1.2515. Given the pair sustain its recent strength and closes beyond 1.2515, the 1.2600, the 1.2620 and the 1.2685 can please Bulls. If the latest up-move fails to last long, the 1.2380 seems an immediate support for the pair, breaking which 1.2280 and the 1.2240 could be expected as rests. Should prices drop below 1.2240, the 1.2200, the 1.2150 and the January low near 1.2100 may come in sellers’ radar.



Unlike previous two-pairs, which are near to their short-term resistances, the CHFJPY is aiming for 112.50-45 horizontal-support re-test, clearing which it could further drop to 111.80 and the 111.60 rest-points. During the pair’s additional downturn below 111.60, the 111.00, the 110.35 and the 110.00 are likely supports that should be given proper attention. Meanwhile, pair’s bounce form present levels could flash 113.00 and the 113.25 on the chart while a fortnight-long descending trend-line, at 113.80 now, may try to restrict its following upside. If prices rally beyond 113.80, the 114.15 and the 114.40-45 can become intermediate stops that can availed during a north-run to 115.15, near to May month high.



Having broke 50-day SMA on a daily closing basis, the CADCHF is slowly rising towards 0.7385-90 horizontal-line, which if broken enables the quote to target the 0.7420, the 0.7455 and the four-month old descending trend-line around 0.7470. Given the pair’s successful trading above 0.7470, the 0.7525 and the 0.7600 can become buyers’ favorite. Alternatively, 50-day SMA level of 0.7300 can offer immediate support to the pair, breaking which 0.7270 and the 0.7225 could follow the suit. Moreover, pair’s additional south-run below 0.7225 needs to clear 0.7170 in order to revisit 0.7130-20 support-zone.

Cheers and Safe Trading,
Anil Panchal