Technical Update For EUR/USD, GBP/USD, NZD/USD & USD/CHF: 16.01.2019

Anil Panchal
Technical Update For EUR/USD, GBP/USD, NZD/USD & USD/CHF: 16.01.2019


Having failed to sustain 100-day SMA breakout, the EURUSD now rests around 50-day SMA level of 1.1380, breaking which nine-week old support-line, at 1.1320, and the 1.1260 can reappear on the chart. In case prices continue declining under 1.1260, the 1.1215 and the 61.8% FE level of 1.1080 may gain sellers’ attention. Meanwhile, the 1.1475 comprising 100-day SMA, followed by the 1.1550 & the 1.1570 could confine the pair’s near-term advances prior to challenging the 1.1610-25 region including 200-day SMA. If at all the pair manage to provide a daily closing beyond 1.1625, the 1.1700, the 1.1730 & the 1.1800 might please the buyers.


GBPUSD is struggling with 100-day SMA level of 1.2895 in order to justify its strength in targeting the four-month old descending TL, at 1.3000. Given the pair’s D1 close past-1.3000, the 1.3070 and the 200-day SMA level of 1.3115 can well be aimed at if holding long positions. Assuming the pair’s inability to cross 1.2895 barrier, it may revisit the 1.2760 and the 1.2700 rest-points. However, an upward slanting trend-line, at 1.2670, could trigger the quote’s U-turn, if not then 1.2600 & 1.2550 might become Bears’ favorites.


With its another dip from 200-day SMA, NZDUSD is likely to re-test the 0.6750 and the 0.6700 supports but 100-day SMA number of 0.6680 could restrict the pair’s further downside. Should the pair refrains to respect the 0.6680 mark, the 0.6600 TL figure seem crucial to watch as break of which can highlight the importance of 0.6540 & 0.6500 levels. On the contrary, the 0.6850 and the 0.6900 resistance-line might act as nearby strong upside hurdles for the pair, breaking which 0.6940 & 0.6965 could fetch the limelight. During the pair’s successful rise after 0.6965, the 0.7000 & the 0.7055 may flash on Bulls’ radar.


Even after gradually recovering since a week, the USDCHF still needs to conquer a downward slanting trend-line stretched since mid-November, around 0.9890 now, to look towards 0.9920 & 0.9960 resistances. Though, 1.0000-1.0010 horizontal-area might question the pair’s strength above 0.9960, failing to which could push it to 1.0040 & 1.0080 numbers to north. Alternatively, the 0.9850 & the 0.9830 support-line may give troubles to sellers, breaking which 0.9800 & 0.9790-85 zone can come to their help. In case prices keep sliding under 0.9785, the 0.9760, the 0.9715 and the 61.8% FE level of 0.9660 could offer consecutive rests to the pair.

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