Technical Update For EUR/USD, GBP/USD, NZD/USD & USD/CHF: 26.12.2018

Anil Panchal
Technical Update For EUR/USD, GBP/USD, NZD/USD & USD/CHF: 26.12.2018


A fortnight old ascending trend-line presently challenges EURUSD sellers around 1.1380, which if broken can quickly drag the quote to 1.1330 and then the 1.1300 but the 1.1270-65 horizontal-line could confine the pair’s following downside. In case the pair continue trading southwards past-1.1265, the 1.1215 and the 1.1200 may flash on the chart. Alternatively, the 1.1425 and the 1.1445-50 might restrict the pair’s near-term advances prior to highlighting the 1.1480-1.1500 resistance-region, comprising 100-day SMA on D1. If at all buyers conquer 1.1500 mark, the 1.1550, the 1.1570 and the 1.1620 can appear on their radars to target.


With the short-term “Rising-Wedge” directing GBPUSD moves, the pair has to slid beneath the 1.2640 support in order to justify the bearish formation and aim for 1.2530. Should prices weaken under 1.2530, the 1.2475, the 1.2400 and the 61.8% FE level of 1.2365 can become Bears’ favorites. Meanwhile, pair’s sustained break of 1.2745 resistance-line defies the pattern and could extend the recovery towards 1.2810 ahead of confronting 1.2880-85 barrier. Additionally, the 1.2950, the 1.3000 and the 1.3035-40 can entertain Bulls beyond 1.2885.


Unless breaking the 0.6705-0.6685 support-zone, the NZDUSD is less likely to revisit the 0.6630 and the 0.6600 round-figure; though, pair’s extended declines below 0.6600 may look for 0.6565, the 0.6500 and the 0.6460 rest-points. Given the pair takes a U-turn, the 0.6785 and the 0.6835 resistance-line could play their roles, which if ignored might give rise to the 0.6880 and the 0.6915 numbers on the chart. Assuming the pair’s successful rally over 0.6915, the 0.6970, the 0.7000 and the 0.7020, encompassing 61.8% FE, should be watched carefully.


Even after trading near the lowest levels in more than two-months, the 200-day SMA level of 0.9865 still acts as a strong support for the USDCHF, which if broken on a daily closing basis can drag the pair to 0.9820 and then to 0.9790-80 support-area. In case prices dip beneath 0.9780, the 0.9750 may offer intermediate halt during their plunge to 0.9680 support-line. On the upside, the 0.9900, the 0.9950 and the 50-day SMA level of 0.9980 can act as immediate resistances for the pair before diverting market attention to 1.0000-10 territory. Given the pair manage to cross 1.0010 and marches afterwards, the 1.0060, the 1.0100 and the 1.0130 may again mark their presence.

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Top Promotions

Top Brokers

The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.