Technical Traits of EURAUD, AUDCHF and AUDJPY

January 22, 2016 11:23

EURAUD

EURAUD's failure to surpass short-term ascending trend-channel resistance dragged the pair down to 100-day SMA, at 1.5395 now, indicating a quick test to 1.5300 round figure mark; however, the channel support, around 1.5220, might restrict its further downside, failing to which 50% Fibonacci Retracement of its April – August 2015, coupled with the 50-day SMA, near 1.5130, becomes a strong support for the pair traders to watch. Should the pair continue on its south-run below 1.5130, it becomes weaker enough to re-test the early month lows of 1.4870. Alternatively, 1.5600 mark becomes an immediate upside level for the pair to break before it can rise to 1.5700 and the 23.6% Fibo level around 1.5900 round figure. Moreover, an extended advance beyond 1.5900, might find it difficult in breaking the 1.6085 – 1.6100 area, comprising the mentioned channel resistance, which, if surpassed, can fuel the pair's rally to 1.6250-60 resistance-zone before aiming the August highs around 1.6600 psychological level.

AUDCHF

Even as the AUDCHF managed to bounce from the descending trend-channel support, the 50-day SMA, coupled with the channel upper-line, near 0.7160-70, can continue confining the pair's nearby up-move. If the pair rallies above 0.7170, also clears the 0.7200 round figure mark, 38.2% Fibonacci Retracement of September 2014 to January 2015 downside, near 0.7300, might hinder the pair's further rise. However, sixteen month old descending trend-line resistance, near 0.7410-20, could restrict the pair's extended advance beyond 0.7300. On the downside, 23.6% Fibo, near 0.6950, followed by the 0.6850, are likely intermediate supports that the pair can witness during its reversal before it could re-test the channel support, presently around 0.6730. Should the pair drops below 0.6730, it becomes weaker enough to test 0.6650 and the 0.6530 prior to targeting a re-test of January lows near 0.64000 mark.

AUDJPY

While short-term descending trend-channel depicts the AUDJPY's reversal from 200-day SMA, the pair recently bounced-off from the channel support and is currently aiming for the channel upper-line test, around 83.80 now, breaking which it can rise to 85.35-50 resistance-zone prior to witnessing the 100-day SMA, near 86.20. If the pair continues trading up after breaking the 86.20, the 88.00 – 88.20, adjacent to the 200-day SMA level of 89.50, are likely levels that can confine the pair's following advance. Meanwhile, 81.30 and the 79.70 are the expected downside numbers that could hold the pair's south-run, breaking which the 61.8% FE of its November 2014 – August 2015 downside, coupled with the channel support, near 77.80-70, becomes an important support for the pair traders to look for. If the drops below 77.70, it become vulnerable to test 75.00 round figure mark.

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