Yahoo Finance Technical Outlook of EUR/USD, GBP/USD, NZD/USD & USD/CHF: 17.04.2018
EUR/USD
Considering the EURUSD’s latest U-turn from two-month old descending trend-line, coupled with overbought RSI, the pair is more likely to revisit the immediate TL support, around 1.2340, breaking which 1.2300 and the 1.2260 can come alive on the chart. Though, an upward slanting trend-line, near 1.2235, may restrict the quote’s following downside, failing to which may highlight the 1.2200, the 1.2180 and the 1.2150 consecutive supports. Should prices reverse from present levels and surpass the 1.2415 trend-line resistance, the 1.2445-50 horizontal-region could try limiting its recovery, if not, then 1.2470 and the 1.2500 round-figure might become buyers’ favorite. Moreover, pair’s successful trading beyond 1.2500 can help the Bulls target the 1.2520 & the 1.2555 numbers.
GBP/USD
Even if the GBPUSD surpassed 1.4350 resistance, it needs to provide a weekly close above the same to please the optimists with 1.4420 & 1.4470 ahead of confronting the 1.4500 important resistance, comprising more than a year-long ascending trend-channel’s upper-line & 61.8% FE level of its recent pullback. Given the pair’s ability to clear the 1.4500 barrier, the 1.4610 may offer an intermediate halt during its rally towards 1.4730 stop. Alternatively, the 1.4280 & the 1.4240 can act as adjacent supports for the pair in case of its decline, breaking which 1.4210 & 1.4140 may acquire traders’ attention. Assuming the pair’s dip beneath the 1.4140, the 1.4080 and the 1.4000 mark seem important to watch.
NZD/USD
Unlike EURUSD, the NZDUSD is already testing the nearby TL support, at 0.7335 now, smashing that can drag the pair to avail the 0.7320 and the 0.7300 rest-points. Should the 0.7300 horizontal-line fail to trigger the pair’s pullback, the 0.7270, the 0.7245 and the 0.7200 are likely numbers to appear on Bear’s radars. Meanwhile, the 0.7370 can provide immediate resistance to the pair ahead of making it challenge the 0.7395 trend-line. However, pair’s ability to surpass the 0.7395 could help it aim for the 0.7410 and the 0.7435 north-side figures.
USD/CHF
With the three-week long ascending trend-line triggering the USDCHF’s up-moves, the pair again aims to confront the 0.9645-50 resistance-area but the 0.9635 can become immediate stop for the pair. Given the pair’s successful encounter of 0.9650, the 61.8% FE level of 0.9670 and the 0.9710 might entertain the Bulls. On the downside, 0.9600 and the 0.9580 trend-line may confine the pair’s short-term declines, breaking which 0.9520 could be targeted. Additionally, pair’s sustained south-run below 0.9520 can have 0.9485 & 0.9430 as supports.
Cheers and Safe Trading,
Anil Panchal
This article was originally posted on FX Empire
