Important CHF Pairs’ Technical Checks: 30.03.2017

USD/CHF

USDCHF’s bounce from 0.9810 presently struggles to clear short-term descending trend-line resistance, around 0.9970-75, which in-turn signal brighter chances for the pair’s pullback to 0.9940 and 0.9900 round figure. Should the pair continue declining below 0.9900, it can revisit 0.9860 and 0.9810 supports, breaking which chances of its extended southward trajectory towards 61.8% FE level of 0.9755 can’t be denied. If at all the quote manages to surpass 0.9975, it can quickly rise to 1.0000 psychological magnet, comprising horizontal-line, breaking which 1.0020 & 1.0045 can please buyers. During the pair’s additional up-move beyond 1.0045, the 1.0060 and the 1.0100 are likely following resistances that can entertain Bulls.

EUR/CHF

Following its reversal from short-term descending trend-line, comprising part of downward slanting triangle, the EURCHF seems all set to re-test 1.0680 support-line. Should the pair fails to respect triangle-support, the 1.0660 and the 1.0645 can reappear on the chart, breaking which 1.0630 and the 1.0600 may follow the suit. Meanwhile, the 1.0725 TL can keep limiting the pair’s immediate upside, breaking which the quote can rise to 1.0750 and the 1.0780. If the pair keep trading towards north after clearing 1.0780, the 1.0800 and the 1.0825 should be observed closely.

CHF/JPY

The 111.00 – 110.90 horizontal-line again confined the CHFJPY’s decline and the pair presently signals 112.00 re-test. Given the pair maintain its pullback beyond 112.00, the 112.40 and the 100-day SMA figure of 112.80 should please short-term buyers before offering them 113.20 and the 113.80 resistances. Alternatively, pair’s daily closing below 110.90 can quickly fetch it to 110.20, 110.00 and then to 109.40 support-levels. However, 200-day SMA level of 108.95 can limit the pair’s further downside below 109.40, failing to which can flash 108.40 on the chart.

AUD/CHF

AUDCHF’s inability to extend its drop below 200-day SMA figure of 0.7490 triggered its U-turn during Tuesday, which presently propels it to challenge the 0.7690 TL with 0.7660 being intermediate halt. Given the pair surpasses 0.7690 resistance-line on a daily closing basis, 0.7730 and the 0.7810 are likely consecutive upside numbers to grab attention before 61.8% FE level of 0.7945 becomes a probability. On the downside, 0.7565 and the 0.7490 can be considered as short-term important supports, breaking which 0.7400 and the broader trend-line support of 0.7385 comes into play. If at all the pair drops below 0.7385, chances of its plunge to the 0.7340 and the 0.7270 can’t be denied.

Cheers and Safe Trading,
Anil Panchal