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Technical Outlook of Important CHF Pairs: 28.03.2018

USD/CHF

Considering USDCHF’s latest U-turn from near 50-day SMA, the pair seems all set to challenge the 0.9565-70 area with 0.9535 being immediate resistance to tackle. In case if the pair manage to surpass the 0.9570 mark on a daily closing basis, the 0.9600 & the 0.9640 are likely following numbers to please the buyers ahead of questioning their strength by 200-day SMA level of 0.9660, adjacent to 0.9665-70 horizontal-line. Given the pair’s inability to sustain latest recovery, the 0.9455 and the 50-day SMA level of 0.9415 might entertain short-term sellers. Should there be additional downside by the pair beneath the 0.9415, the 0.9400 and the 0.9335 can reappear on the chart.

EUR/CHF

Having reversed from 100-day SMA, the EURCHF is presently struggling with 1.1795–1.1800 resistance-zone, which if broken could escalate the pair’s rally towards 1.1835 and then to the 61.8% FE level of 1.1950; however, the 1.1900 round-figure might offer an intermediate halt to the quote. On the contrary, the 1.1725, the 1.1700 and the 1.1670 can act as nearby supports for the pair ahead of reigniting the importance of 100-day SMA level of 1.1650. Assuming the Bears’ capacity to fetch prices below 1.1650 on a D1 close, the 1.1600 and the 1.1560 may gain traders’ attention.

NZD/CHF

With the NZDCHF’s successful trading above 50-day SMA during present week, the pair may aim for 0.6905 and the 0.6925 resistances prior to targeting the 0.6955-60 horizontal-line. If at all the pair clears the 0.6960 mark, the 0.6990 and the 0.7005 trend-line become crucial to observe. Meanwhile, break of 50-day SMA, the 0.6860 number, can drag the pair to 0.6810 and to the 0.6775 but an upward slanting trend-line, stretched since early December 2017 can confine further declines around 0.6750. Should the pair refrains to respect the 0.6750, the 0.6720 and the 0.6700 can print their presence.

CAD/CHF

Even if short-term symmetrical triangle is likely to keep restricting CADCHF moves between 0.7395 and the 0.7270, expected gains of the Canadian Dollar (CAD), mainly due to rising Crude prices, could help the pair to conquer the 0.7395 and meet the 50-day SMA level of 0.7425. Given the pair’s capacity to clear 0.7425 barrier, the 0.7470 is likely a buffer during its rally in direction to 0.7510-15 region. Alternatively, 0.7330 & 0.7300 may be considered as minor supports that the pair can avail if it witnesses the pullback whereas 0.7270 could limit its extended declines. Though, quote’s downturn below 0.7270 might not hesitate flashing the 0.7225, the 0.7200 and the 0.7170 as levels.

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Cheers and Safe Trading,
Anil Panchal

This article was originally posted on FX Empire

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