Yahoo Finance Technical Checks For USD/CAD, EUR/CAD, NZD/CAD & CAD/CHF: 29.06.2017
USD/CAD
Having cleared a year-long upward slanting trend-line, the USDCAD is now struggling with 1.3000 – 1.2995 horizontal-support in order to stretch its south-run towards the 1.2960 and the 1.2900 rest-points. In case of the pair’s additional weakness below 1.2900, the 1.2830 and the 1.2760 might offer intermediate halts prior to flashing 1.2650-55 on the chart. However, oversold RSI and presence of strong support-region indicates brighter chances of the pair’s pullback to 1.3060, 1.3125 and the 1.3150 consecutive resistances. Given the quote’s extended recovery beyond 1.3150, the 1.3200, the 1.3280 and the 200-day SMA level of 1.3340 can entertain follow-on Buyers ahead of pushing them to conquer with 1.3385 resistance-line.
EUR/CAD
EURCAD’s failure to extend its recovery beyond 1.4980 signals it’s another drop in direction to 1.4730-25 horizontal-line with 1.4800 and the 1.4755 being nearby supports to avail. Should the pair refrains from respecting the 1.4730-25 region, it can quickly plunge to 1.4660 and the 1.4600 round-figure ahead of meeting 1.4530 and the 1.4490 supports. Alternatively, 1.4900 and the 1.4980 are expected immediate resistances that the pair needs to surpass before aiming the 1.5000 – 1.5010 horizontal-resistance, which if broken could help stretch the advances towards 1.5125 and the 1.5210. If at all Bulls dominate prices after 1.5210 break, the 1.5260 is likely a buffer that can be availed during their rally to 61.8% FE level of 1.5480.
NZD/CAD
NZDCAD recently broke 0.9510-15 support-confluence, comprising 50-day SMA & celeven-week old ascending trend-line, which in-turn favors the pair’s decline to 0.9470 and then to the 100-day SMA level of 0.9445. If Bears aren’t satisfied with 0.9445 break, they can further fetch the quote to 0.9400, 0.9380 and then the 0.9350 support-levels. Meanwhile, a daily closing 0.9515 could negate the latest breakdown and might rejuvenate the pair’s pullback to 0.9550, 0.9590 and the 0.9620 resistances. Moreover, pair’s successful trading above 0.9620, raises hopes to witness 0.9660, 0.9690 and the 0.9710 numbers on the chart.
CAD/CHF
Following its successful bounce from 50-day SMA, the CADCHF now confronts more than four-month old descending trend-line, at 0.7360, which if broken on a daily closing basis, can help buyers target 100-day SMA level of 0.7400. During the pair’s further advances beyond 0.7400, the 0.7430 and the 0.7465 can mark their presence while 0.7500 & 0.7530 become eagerly awaited. On the downside, 0.7360 and the 0.7345 can offer adjacent supports to the pair, breaking which 0.7300 and the 50-day SMA level of 0.7265 comes into play. Given the Bears dominance after 0.7265, the 0.7190 and the 0.7120 can be alive in their radar.
Cheers and Safe Trading,
Anil Panchal
This article was originally posted on FX Empire
