Technical Checks For EUR/USD, AUD/USD, NZD/USD & USD/CHF: 11.12.2018

Anil Panchal
Technical Checks For EUR/USD, AUD/USD, NZD/USD & USD/CHF: 11.12.2018


Considering a month long symmetrical triangle formation on EURUSD chart, the pair is less likely to register much momentum till it trades within the present range of 1.1305 and the 1.1435. Though, comparative strength of the US Dollar favor brighter chances of the pair’s decline than the otherwise, which in-turn highlights the importance of 1.1260 and the 1.1215 supports after 1.1305 break. In case prices continue drowning past-1.1215, the 1.1110 & 1.1080 may become Bears’ favorites. Meanwhile, an upside break of 1.1435 can trigger the pair’s rise to 1.1480, crossing which the 1.1495-1.1500 and the 1.1530-35 could challenge the buyers. If at all the pair surpasses 1.1535 barrier, the 1.1565, the 1.1600 and the 1.1620 might gain market attention.


Even if 50-day SMA pulled the AUDUSD upwards, 100-day SMA level of 0.7235 can limit the pair’s immediate advances, clearing which the 0.7315 and the 0.7355 can entertain Bulls. However, 200-day SMA level of 0.7405 may tame the pair’s moves above 0.7355, failing to which could propel the quote to 0.7475 & 0.7500 resistance-levels. Given the pair’s D1 close beneath 0.7180, including 50-day SMA, the 0.7160 & the 0.7100 might flash on sellers’ radar to target. Additionally, pair’s extended south-run below 0.7100 can reprint the 0.7050, the 0.7020 and the 0.7000 on chart before diverting traders to 61.8% FE level of 0.6900.


NZDUSD’s failure to cross 0.6900 mark could drag it back to 0.6835 support-line but a break of it might not hesitate fetching the pair to 0.6815 and the 0.6800 rest-points. Should the pair drops beneath 0.6800, the 0.6755-50 and the 0.6710-05 may try restricting the downside, if not then the 0.6680, the 0.6660 & the 0.6630 can play their roles of consecutive supports. Alternatively, sustained clearance of 0.6900 highlights the 0.6930, the 0.6950 and the 0.6970 resistances whereas 61.8% FE level of 0.7005 might be aimed if holding long positions then after.


In addition to 0.9865-55 horizontal support-zone, 200-day SMA level of 0.9845 could also activate the USDCHF’s pullback, if not then 0.9780 & 0.9750 needs to be closely observed. Assuming the pair’s further weakness below 0.9750, ten-month old upward slanting trend-line, at 0.9670, may have to justify as support. On the contrary, 0.9920 & 0.9960 seem adjacent resistances for the pair to surpass prior to confronting the 0.9970-75 resistance-confluence, including 50-day SMA & descending resistance-line. It should also be noted that pair’s successful march beyond 0.9975 enables it to aim for 1.0000 and the 1.0040 numbers to north.

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