Technical Outlook: AUDNZD, EURAUD and AUDCHF

September 24, 2015 13:49

AUDNZD

Having failed to break 1.1315-30 horizontal mark, the AUDNZD reversed during the early week days while a dip below 1.1170 on Wednesday left the doors open for the pair prices to currently test 100-day SMA, 1.1050-55 area. Should the pair continue extending its downward trajectory and closes below 1.1050, it becomes vulnerable to plunge towards 1.0900 – 1.0880 horizontal support, including 38.2% Fibo of its April – July advance; however, 1.1000 round figure mark can become intermediate support. Meanwhile, pair's bounce from the present level, can find 1.1170 as immediate resistance, breaking which it becomes strong enough to again target 1.1315-30 resistance region. Moreover, sustained break of 1.1330 can accelerate the pair's advance to surpass 1.1400 mark and target the 1.1575-80 crossing which brightens the chances of revisiting August highs around 1.1700 area.

EURAUD

EURAUD's bounce from 1.5600 – 1.5580 horizontal support enabled the pair to tackle a month old descending trend-line resistance, near 1.6100 round figure mark, paving its way for the accelerated rise towards 1.6285 – 1.6300 and ultimately toward the August highs near 1.6600. Should the pair manages to break 1.6600, 61.8% FE of its June – August advance, near 1.7000 area can become next landmark for the pair to test; though, 1.6800 is likely buffer during its up-move. On the downside, a close below 1.6100, also breaking 23.6% Fibo, near 1.6050, negates the recent break and can pullback the pair towards 1.5900 and the 38.2% Fibo, near 1.5720, prior to re-visiting the 1.5600 – 1.5580 support-zone. Moreover, a break of 1.5580 on a closing basis can make the pair vulnerable to plunge towards 1.5250-60 support region.

AUDCHF

Break of short-term ascending trend-line support, also encompassing the 23.6% Fibo of its April – August decline, near 0.6800 round figure mark, favors the brighter chances of the AUDCHF to re-test early September lows, near 0.6700 and the 0.6640-35 supports. Should the pair fails to stop its running decline near 0.6640, chances of its plunge to August lows, near 0.6540, can't be denied. Also, a sustained break of 0.6540 can call for the pair's decline to test 61.8% FE of the said move, near 0.6300 psychological mark. On the upside, a close above 0.6800 negates the break and can pull the pair immediately towards 0.6875-80 prior to targeting 0.6960-70 horizontal mark, encompassing 38.2% Fibo. Moreover, successful encounter of 0.6970 can enables the pair to target 0.7100 area, as signaled by the 100-day SMA and 50% Fibo, breaking which 0.7280 – 0.7300 region, encompassing 200-day SMA, becomes strong resistance to limit further upside by the pair.

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