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Technical Overview of USD/CHF, AUD/CHF & CAD/CHF: 09.02.2018

Anil Panchal
Updated

USD/CHF

Looking at the USDCHF’s bounce-off the resistance-turned-support, coupled with immediate ascending TL, the pair seems capable enough to aim for 0.9420-25 area; however, its following upside might be restricted by the 0.9465-70 horizontal-line. Should the pair manage to surpass the 0.9470, the 0.9500 and the 0.9550 are likely consecutive resistances to appear on the chart. Meanwhile, the 0.9365 and the 0.9330 may become nearby supports for the pair to clear before it can target 0.9300 round-figure during its further downside. Given the pair’s sustained declines beneath 0.9300, the 0.9280, the 0.9250 and the 61.8% FE level of 0.9210 may entertain the sellers.

AUD/CHF

With the 0.7280-70 horizontal-line aptly portraying the AUDCHF’s U-turn, chances of the pair’s up-moves to the 0.7350, the 0.7370 and to the 0.7400 become brighter; though, 0.7425-30 could disappoint the Buyers then after. In case if prices keep rising after 0.7430, the 0.7465, the 0.7500 and the 200-day SMA level of 0.7530 may gain Bulls’ attention. On the contrary, pair’s daily closing below 0.7270 can magnify its weakness by fetching it to 0.7230 and 0.7200 rest-points. Moreover, pair’s extended south-run beneath 0.7200 could make it vulnerable to test 0.7185 and the 0.7140 support-marks.

CAD/CHF

Unlike both the aforementioned pairs, the CADCHF still has some more room on the downside, till 0.7390-80 horizontal-line, before it can possibly reverse to 0.7465 but a month-old downward slanting trend-line, at 0.7515, may confine its advances. Should the quote surpasses 0.7515 on a daily closing basis, the 0.7545, the 0.7585 and the 200-day SMA level of 0.7620 could flash in the Bulls’ radar. Alternatively, clear break of 0.7380 can quickly drag the pair to 0.7320 and then to the 0.7270 support-levels, conquering which may push sellers to target 0.7200, the 0.7170 and the 0.7120 rest-points during extended downturn.

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Cheers and Safe Trading,
Anil Panchal

This article was originally posted on FX Empire

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