Yahoo Finance Important CHF Pair’s Technical Overview: 13.06.2018
USD/CHF
Break of nearly a month-old descending trend-channel signals the USDCHF’s upside towards 0.9900 and the 0.9930-35, if it manages to sustain the breakout, but the 0.9955-60 horizontal-area might confine the pair’s further recovery. In case the quote successfully clears the 0.9960 barrier, the 1.0000 round-figure and the 1.0055 are likely intermediate hurdles that needs to be surpassed in order to meet the 61.8% FE level of 1.0110. On the contrary, pair’s drop below resistance-turned-support figure of 0.9860 can reprint 0.9830 and the 0.9800 mark before taking rest around the 0.9750 number, including channel-support. Should prices continue declining below 0.9750, the 0.9720 and the 0.9660 might please the sellers.
CHF/JPY
While overbought RSI & failure to conquer three-week old ascending trend-line indicates the CHFJPY’s pullback to 111.50, pair’s additional downside can be restricted by an upward slanting TL, at 111.30. Though, break of 111.30 could open the gate for the pair’s south-run to the 110.70, the 110.20 and then the 110.00 levels. Meanwhile, the 112.00 and the 112.20, encompassing aforementioned TL, may keep limiting the pair’s near-term advances but break of 112.20 can quickly fuel the momentum targeting 61.8% FE level of 112.70. Assuming the buyers’ dominance over trade sentiment after 112.70, the 113.00 and the 113.40, comprising 200-day SMA on D1 chart, may entertain them.
NZD/CHF
Even after taking a U-turn from the downward slanting trend-line stretched since mid-April, the NZDCHF bounced off an immediate support-line, which in-turn favors the pair’s current confrontation with the resistance-line, at 0.6945. Given the pair conquers the 0.6945 resistance-mark, it can rise to 0.6970 and 0.7000 whereas 0.7035-40 region could challenge following upside. If the pair again fails to clear the 0.6945 barrier, the resultant profit-booking can highlight the said support-line near 0.6900. Also, pair’s dip beneath the 0.6900 rest-point might not hesitate pushing Bears to aim the 0.6875, the 0.6815 and the recent low of 0.6795.
CAD/CHF
CADCHF struggles around 0.7565-60 support-zone with brighter chances of the pair’s plunge to 0.7530 and then to the 0.7510, comprising 61.8% FE, on the break of 0.7560. Should prices continue trading southwards after 0.7510, the 0.7470 and the 0.7430 may mark their presence on the chart. Alternatively, the 0.7600 and the 0.7620 resistance-line can keep disappointing the Bulls, breaking which the 0.7645, the 0.7680 and the 0.7700 may appear in their radars to target. Additionally, pair’s sustained north-run beyond 0.7700 enables it to question the strength of 0.7720 and 0.7765 resistances.
Cheers and Safe Trading,
Anil Panchal
This article was originally posted on FX Empire
