Technical Checks For EUR/USD, USD/JPY, AUD/USD & USD/CHF: 21.08.2018

EUR/USD

With the overbought RSI & 1.1535-40 horizontal-region playing their roles to drag EURUSD back, the 1.1480 support-mark now gains market attention; however, an upward slanting trend-line, at 1.1430, can confine the pair’s following downside. Should sellers refrain to respect the 1.1430 TL, the 1.1350 and the 1.1300 might flash on their radar to target. Alternatively, successful break of 1.1540 could escalate the pair’s recovery towards 1.1580 and the 1.1610 resistances before questioning its strength by six-week-old descending trend-line, at 1.1680. In case the pair continues rising past-1.1680, the 1.1740 and the 1.1800 may please the Bulls.

USD/JPY

Even after gradually declining since mid-July, the USDJPY is still left to close beneath the 110.00-109.85 support-confluence, comprising 100-day & 200-day SMA, which in-turn signals brighter chances of its short-covering moves to 110.50. Though, a month-old descending trend-line, at 111.05, may challenge the pair’s additional upside, if not then 111.40 & 112.15-20 can be crucial to watch. Meanwhile, a D1 close below 109.85 could quickly fetch prices to the 109.35 and to the 108.60 rest-points prior to highlighting the importance of 107.95-85 support-area. Moreover, the pair’s sustained downturn after 107.85 can avail 107.00 & 106.60 as stops ahead of revisiting the 105.65-60 zone.

AUD/USD

AUDUSD’s clearance of 0.7315-20 favors its advances to the 0.7370 and the 0.7410 resistances but the 0.7435 trend-line seems a tough barrier for it during the further rise. If at all buyers keep preferring the pair beyond 0.7435, the 0.7460 and the 0.7485 might become their favorites. On the downside, pair’s dip beneath the 0.7315 has to conquer the 0.7305 trend-line figure in order to re-test the 0.7280 & the 0.7250 levels. Also, pair’s extended south-run below 0.7250 might not hesitate to pull it to 0.7200 round-figure.

USD/CHF

While a break of 100-day SMA indicates the USDCHF’s declines, the 0.9860-55 could disappoint the Bears, failing to which can magnify the pair’s weakness towards the 0.9825 and the 0.9780 supports. Given the pair’s slide below 0.9780, the 200-day SMA level of 0.9750 and the 0.9700 could entertain traders. Assuming the pair’s reversal from the present level, the 0.9920 & the 0.9960 may act as buffers before diverting sentiment towards the 0.9985-90 horizontal-line. In case the quote surpasses 0.9990 hurdles on a daily closing basis, the 1.0000, the 1.0010 and the 1.0070 can offer intermediate halts to its rally targeting 61.8% FE level of 1.0170.