Technical Overview of USD/CHF, EUR/CHF, AUD/CHF & NZD/CHF: 31.08.2017

USD/CHF

Considering the USDCHF’s latest recovery from 0.9427, which helped it surpass immediate TL resistance, the pair seems capable enough to challenge the intermediate trend-line figure of 0.9715, immediately followed by 100-day SMA level of 0.9730. Given the pair’s capacity to extend its up-moves beyond 0.9730, the 0.9775, the 0.9805 and the 0.9860 may entertain short-term buyers ahead of offering them the 0.9900 downward slanting resistance-line. Should prices fail to sustain recent strength and close below 0.9600, the 0.9560 and the 0.9535 can act as buffers prior to reigniting the importance of 0.9520 horizontal-line. In case if Bears continue commanding the quote after 0.9520 break, the 0.9470 and the 0.9427 could be observed closely, which if broken might fetch it towards 61.8% FE level of 0.9360.

EUR/CHF

Even if 1.1470-75 restricts the EURCHF’s immediate advances, a fortnight long ascending trend-channel keep signaling brighter chances for the pair’s up-moves. In case if the pair witnesses pullback from present levels, the 1.1415 and the channel-support of 1.1390 gain importance, breaking which 1.1340 and the 1.1300 may appear on the chart. Though, 1.1260-55 horizontal-line could confine the pair’s further downside, failing to which could trigger its south-run in a direction to 1.1200 and the 1.1175. Alternatively, the 1.1500 and the 1.1515, comprising channel’s upper-line, are expected nearby resistances that may limit the pair’s recovery while a successful break of both can magnify buyers’ strength in flashing 1.1540 and the 61.8% FE level of 1.1600 as quotes.

AUD/CHF

AUDCHF is presently confronting with a month-long descending trend-line resistance mark of 0.7630, which if broken could help it target the 0.7675 and the 0.7700 numbers to the north. During the course of the pair’s additional upside after 0.7700, the 0.7720 and the 0.7740 can act as small barriers before pushing it to aim early-month high around 0.7780. Meanwhile, the 0.7565, the 0.7540 and the 0.7500 could be considered as nearby supports for the pair. If the 0.7500 mark is broke, the 0.7465, the 0.7450 and the 0.7400 can appear on the Bears’ radar.

NZD/CHF

With the sustained trading below 0.6945-50 horizontal-line, the NZDCHF is more likely to extend its south-run with 0.6870 being immediate support, break of which could negate the short-term “Falling-Wedge” chart-pattern and drag the pair towards 0.6850 and then to 0.6820. Given the sellers’ dominance over the prices after 0.6820 breaks, the 0.6800, the 0.6760 and the 0.6720 can be expected while being short. On the upside, a clear break of 0.6950 could help the pair confront with formation resistance-line of 0.6970, which is close to 100-day SMA level of 0.6985. If the pair manages to surpass 0.6985 on a daily closing basis, the Bullish pattern gets confirmed and could help buyers target 0.7040 and the 0.7100 resistances.

Cheers and Safe Trading,
Anil Panchal