Technical Outlook For EUR/USD, AUD/USD, USD/CAD & USD/CHF: 20.11.2018

Anil Panchal


Not only 50-day SMA but seven-month old descending resistance-line also stand tall to challenge the EURUSD’s recent recovery, which in-turn flash chances of the pair’s pullback to 1.1370-65 and then to the 1.1300 supports. In case prices continue to decline past-1.1300, the 1.1215 and the 61.8% FE level of 1.1120 are likely following numbers to appear on the chart. Alternatively, a D1 close beyond 1.1505, comprising 50-day SMA, could trigger the pair’s rise towards 1.1610 trend-line barrier, breaking which 1.1700 & 1.1750 might please the buyers. However, the 1.1805-25 region, including 200-day SMA, can challenge the pair’s advances above 1.1750, which if not respected may fuel  the quote to 1.1855 & 1.1900 resistances.


Alike EURUSD, the AUDUSD also has to justify its strength by surpassing an important resistance-zone that encompasses the 200-day SMA around 0.7440-50. Though, pair’s sustained trading above 100-day SMA can help it target the 0.7340 & the 0.7385 in the meantime. Given the pair’s successful break of 0.7450, the 0.7485 & 0.7540 may entertain the Bulls. If at all there is a D1 close beneath 100-day SMA level of 0.7250, an upward slanting TL at 0.7220 and the 50-day SMA level of 0.7170 could grab market attention. Moreover, pair’s extended downturn after 0.7170 might avail the 0.7150, the 0.7090 and the 0.7035 as consecutive rest-points.


With six-week long ascending trend-channel limiting the USDCAD’s downside, the 1.3215 and the 1.3250 can keep popping on the optimists radar before emphasizing on recent high of 1.3265. During the pair’s further upside beyond 1.3265, the 61.8% FE level of 1.3310 and the channel-resistance figure of 1.3325 could become traders’ favorites. Meanwhile, pair’s dip beneath the 1.3130 channel-support can activate its drop towards 1.3050 and then to the 1.3000 psychological magnet. Should prices refrain to respect 1.3000 support, the 1.2920 and the 1.2885-80 might lure the sellers.


Having breached the 0.9955-50 horizontal-support, the USDCHF might not hesitate visiting the 0.9855-50 rest-region with 0.9900 & 0.9875 being intermediate halts. Assuming the quote’s south-run below 0.9850, the 0.9825 and the 0.9780 seem Bears’ targets. On the upside, a clear break above 0.9955 may aim for 1.0000 round-figure whereas immediate resistance-line near 1.0030 could confine the pair’s rise afterwards. If at all the pair surges above 1.0030, then the 1.0075, the 1.0090, the 1.0110 and the 1.0125 are expected to gain importance as resistances.

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