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Technical Update For Important CHF Pairs: 20.09.2017

USD/CHF

Having failed to surpass a month-old descending trend-line, at 0.9645 now, the USDCHF now tests an immediate upward slanting TL support of 0.9590, break of which could quickly drag it to 0.9560 and the 0.9525 rest-points. Given the pair continue declining after 0.9525, the 0.9480 and the 0.9450 might offer intermediate halts during its southward trajectory to 0.9420. In case if the pair reverses from present levels, the 0.9620 can act as nearby resistance before fueling prices to 0.9645 TL, which if broken enable buyers to confront the 0.9695 – 0.9700 region. Moreover, pair’s successful trading beyond 0.9700 can have the 0.9715, the 0.9740 and the August high of 0.9775 as consecutive north-side numbers.

EUR/CHF

eurchf
eurchf

Even if an ascending trend-channel portrays EURCHF’s strength, the pair recently witnessed pullbacks from upper-line and might revisit the 1.1480 and the 1.1450 supports; however, its following downside can be confined by the channel-support figure around 1.1405, which if cleared could further weaken it to test 50-day SMA level of 1.1345. In case of the pair’s additional south-run after 1.1345, the 1.1300 might raise a barrier ahead of fetching it to the 1.1260-65 horizontal-region. On the upside, break of 1.1570 channel-resistance can accelerate the pair’s up-side momentum towards 61.8% FE level of 1.1600 while the 1.1730 and the 1.1800 could be considered as strong resistances if it advances afterwards.

AUD/CHF

audchf
audchf

AUDCHF again heads to confront the 0.7755-60 horizontal-region, which if surpassed could propel the quote to the 0.7775 and then to the February high of 0.7800. If the pair closes beyond 0.7800, the 0.7835 can be considered as a buffer before reigniting possibilities to target 61.8% FE level of 0.7900. Alternatively, 0.7690 and the 50-day SMA level of 0.7630 are likely nearby supports for the pair traders to watch, breaking which an upward slanting TL figure of 0.7595 seems important. If at all sellers conquer 0.7595 mark, the 0.7560 and the 0.7500 should appear in their radar.

CAD/CHF

cadchf
cadchf

With the CADCHF’s break of adjacent TL resistance, the pair seems aiming for 0.7855 and the 0.7885 north-side numbers ahead of challenging the 0.7920. Should the pair manages to extend its recovery above 0.7920, recent high of 0.7960 and the 61.8% FE level of 0.8020 could well appear on the chart. Meanwhile, 0.7900 – 0.7890 seems a strong support-zone for the pair, which if broken can fetch the quote to 0.7760 and the 0.7725 levels. Moreover, the 0.7690 and the 0.7640 may prove their worth should prices decline below 0.7725.

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Cheers and Safe Trading,
Anil Panchal

This article was originally posted on FX Empire

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