Technical Outlook For EURUSD, GBPUSD, NZDUSD & USDCHF: 17.07.2018

EUR/USD

Successful U-turn from three-week long ascending trend-line seems presently propelling the EURUSD moves towards another TL, which together form a symmetrical triangle formation between the 1.1625 and the 1.1770. Should prices manage to defy the triangle pattern by conquering 1.1770 resistance, the 1.1835-40 horizontal-region may gain buyers’ attention. Moreover, pair’s sustained trading above 1.1840 can rush to 1.1900 and the 1.1940 barriers ahead of targeting the 1.2000 psychological-magnet. In case of the quote’s pullback, the 1.1700 and the 1.1660 could offer immediate supports to the pair prior to highlighting the 1.1625 rest-point. Assuming that the pair drops beneath the 1.1625 mark, then it can revisit the 1.1590, the 1.1530 and the 1.1500 supports.

GBP/USD

GBPUSD is another major which recently bounced off the support and is currently rising to confront near-term important resistance. Herein, the 1.3090-1.3100 is crucial support whereas two-month old descending trend-line at 1.3310 acts as resistance. Considering the increase in British Claimant Count Change and political pessimism, the pair is likely to avail the 1.3210 and the 1.3145 intermediate halts before resting on the 1.3100-1.3090 zone for one more time. Given the pair’s extended south-run below the 1.3090 mark, the 1.3050 and the 61.8% FE level of 1.3000 can please the Bears. Alternatively, a break of 1.3310 resistance can escalate the pair’s recovery to 1.3350 and the 1.3440 numbers to north. If Bulls keep dominating trade sentiment past-1.3440, the 1.3510, the 1.3580 and the 1.3615 could make them happy.

NZD/USD

Compared to both the aforementioned pairs, the NZDUSD has a tough challenge in maintaining its strength for longer as the 0.6850-60 resistance-confluence is nearby to disappoint the optimists. Though, pair’s ability to surpass the 0.6860 barrier can help it meet the 50-day SMA level of 0.6900, the 0.6950 and the 0.7000 round-figure during further advances. Meanwhile, the 0.6750 and the 0.6710 might please short-term sellers ahead of questioning their strength by latest low of 0.6685. Also, if the pair continue declining below 0.6685, the 61.8% FE level of 0.6630 and the 0.6600 can be looked at if holding short position.

USD/CHF

Following its dip beneath the 0.9990-85 support-area, the USDCHF may re-test the 0.9900 mark but its following downside can be confined by the 0.9860-55 region. Should prices refrain to respect the 0.9855 support, the 0.9820 and the 0.9785 may appear in the Bears’ radar. On the upside, the 0.9960 can restrict the pair’s adjacent rise, breaking which 0.9985-90 can play its role. Let’s say the pair crosses the 0.9990 hurdle then the 1.0030, the 1.0065 and the 1.0100, encompassing 61.8% FE, might entertain the traders.