Technical Overview of AUD/USD, GBP/AUD & AUD/CHF: 26.04.2018

AUD/USD

With the AUDUSD’s break of nearly a year-old ascending trend-line, the pair seems vulnerable enough to revisit the 0.7505-0.7500 horizontal-support but the 0.7550 may become immediate rest. In case if Bears refrain to respect the 0.7500 round-figure and oversold RSI, the 0.7460, the 0.7420 and the 0.7370 consecutive numbers may mark their presence on the chart. Alternatively, pair’s bounce off the current levels need to surpass the support-turned-resistance line at 0.7610 in order to challenge the 0.7640 resistance. However, pair’s successful trading beyond the 0.7640 could help it stretch the recovery towards 0.7680 and the 0.7720.

GBP/AUD

Even after failing to break a month-long descending TL, the GBPAUD remains well above the 1.8365-60 support, which in-turn indicate brighter chances of its another confrontation to the 1.8455 trend-line. Given the pair’s ability to clear the 1.8455, the 1.8505 and the 61.8% FE level of 1.8570 can become buyers’ favorites. Meanwhile, a downside break of 1.8360 can fetch the quote to 1.8300 and then to the 1.8240 but its following declines may be confined by the 1.8180-70 area. Should prices keep slumping after 1.8170, the 1.8100, the 1.8055 and the 1.8000 psychological magnet can be aimed if being short.

AUD/CHF

AUDCHF’s U-turn from three-week old upward slanting trend-line favors the pair’s up-moves in direction to 0.7465 and the 0.7500 resistances with 0.7515 likely restricting its further advances. Assuming the pair’s rise above 0.7515, the 0.7545, the 0.7565 and the 0.7600, comprising 61.8%, should gain traders’ attention. On the contrary, break of 0.7425 trend-line support could trigger the pair’s dip to 0.7425 and the 0.7385 supports whereas 0.7350 is likely limiting the quote’s additional declines. If the 0.7350 can’t disappoint sellers, the 0.7330, the 0.7300 and the 0.7260 are the numbers that seem crucial to watch.

Cheers and Safe Trading,
Anil Panchal