Important AUD Pairs’ Technical Update: 31.01.2018

AUD/USD

Despite AUDUSD’s inability to extend recent north-run beyond 0.8135, the pair is less likely to decline much unless clearing the seven-week old ascending trend-line, at 0.8030 now. As a result, pair’s present up-moves are expected to confront the 0.8125-35 region but overbought RSI might restrict its additional rise. Should buyers refrain to respect RSI and surpass the 0.8135 on a daily closing basis, the mid-2015 high of 0.8165 and the 61.8% FE level of 0.8310, which is also the 2015’s yearly high, could please the Bulls. On the contrary, a D1 close beneath the 0.8030 TL support can trigger the pair’s southward trajectory towards 0.7980 and then to the 0.7900 round-figure, breaking which there are multiple rests between 0.7880 and 0.7870 that can push the prices upwards. If at all the 0.7870 fails to defy the sellers, the 100-day & 50-day SMA confluence area of 0.7780-70 becomes important to watch.

GBP/AUD

Considering GBPAUD’s latest U-turn from 1.7570, chances of the pair’s drop to the 1.7415 are much brighter; however, an upward slanting TL support of 1.7380 might confine the pair’s following downturn. Given the pair’s break of 1.7380, the 1.7260 and the 1.7210–1.7200 may offer intermediate halts prior to fetching it in direction to current month low, around 1.7100. In case if the pair conquers 1.7570 upside barrier, the 1.7630 can become a buffer ahead of reigniting the importance of 1.7670-75 horizontal-line. Assuming the pair’s successful trading beyond 1.7675, the 1.7700, the 1.7750 and the 1.7800 might entertain the optimists.

AUD/JPY

Ever since the AUDJPY surpassed 100-day SMA during late-December, it kept trading between the SMA support and the 89.00–89.10 resistance-zone. At present, the pair is likely coming down to retest the 100-day SMA level of 87.35, which if broken could activate its fresh declines targeting 50-day SMA level of 86.90 and the 86.50 support-mark. If the pair continue trading southwards after 86.50, it becomes vulnerable to visit the 85.90 and the 85.50 rest-points. Alternatively, the 88.30-35 is likely immediate resistance for the pair traders to observe prior to looking at the 89.00–89.10 area, which if broken could escalate the quote’s recovery towards the 89.35, the 89.70 and then to the 90.00 consecutive resistances.

AUD/CHF

While break of 100-day SMA dragged the AUDCHF to more than a month’s low, an ascending trend-line support, stretched since mid-2017, restricted its further downside. Though, lack of strength appeared when the pair failed to extend its follow-on pullback and revisited the 200-day SMA level of 0.7530. Should prices close below 0.7530, aforementioned TL support of 0.7505, adjacent to 0.7500 round-figure, can try disappointing the Bears. Moreover, pair’s sustained break of 0.7500 could further magnify its weakness and flash 0.7490 and the 0.7430 on the chart. Meanwhile, 0.7590 and the 100-day SMA level of 0.7610 are likely nearby resistances for the pair to break if it is to aim for 0.7630 and the 0.7650 north-side numbers. During the pair’s successful trading beyond 0.7650, the 0.7680 and the 0.7715-20 horizontal-line may gain buyers’ attention.

Cheers and Safe Trading,
Anil Panchal