Technical Update For USD/CHF, CHF/JPY & NZD/CHF: 13.04.2018

USD/CHF

Having failed to surpass the 0.9640-50 horizontal-area, the USDCHF seems coming back to nearly two-month old ascending trend-line, at 0.9560 now, breaking which 0.9530 & 0.9500 are likely following supports that can please the sellers. However, pair’s drop below 0.9500 opens the gate for its south-run towards 0.9420-15 support-zone. Alternatively, an upside break of 0.9650 may have to clear the 0.9665 resistance in order to aim for the 0.9700 round-figure while 0.96735 and the 0.9770 can entertain the Bulls then after.

CHF/JPY

CHFJPY also took a U-turn from five-week long TL and is indicating the 111.60 and the 111.00 to reappear on the chart; though, an upward slanting trend-line, at 110.80, could confine the pair’s further downside, which if broken could drag the quote to 110.30 and then to the 61.8% FE level of 109.70. Meanwhile, break of the 112.10 trend-line resistance could escalate the pair’s recent recovery in direction to the 112.30, the 112.70 and the 113.10 in a gradual manner. Should prices continue rising post-113.10, the 113.50 and the 114.00 can offer intermediate halts during its rally to the 114.45.

NZD/CHF

Considering the NZDCHF’s successful trading beyond seven-month long descending trend-line, the pair seems all set to challenge the 0.7135-40 horizontal-line, which if broken could propel the quote to 0.7160 and to the 0.7200. If at all buyers command momentum after 0.7200, the 0.7220 & 0.7250 may act as buffers while fueling the pair to 0.7290. Given the overbought RSI play its role and activates the pair’s profit-booking, the 0.7085 can become immediate support before highlighting the resistance-turned-support of 0.7050. Moreover, pair’s sustained downturn beneath the 0.7050 may push traders to 0.7030, the 0.7000 and to the 0.6960 support-levels.

Cheers and Safe Trading,
Anil Panchal