Technical Update For AUD/USD, EUR/AUD, AUD/JPY & AUD/CHF: 01.11.2018

A generic image of a pen a calculator and a laptop surrounded by papers
Credit: Shutterstock photo


Early-month risk-on moves recently helped the AUD to recover some of its latest losses and AUDUSD is no exception to this as it crossed 0.7145-40 region; however, the pair needs to sustain the breakout in order to aim for 0.7200 and the 0.7235-40 resistance-area. Given the quote continue rising past-0.7240, the 0.7260 & 0.7300 are likely following numbers to appear on the Bulls' radar to target. If at all prices fail to hold their strength and slide beneath 0.7140, the 0.7120 & 0.7100 can come-back on the chart. Assuming the pair's extended downturn below 0.7100, the 0.7055 and the 0.7040 may be considered as strong supports, breaking which 0.7020 & 0.7000 could gain market attention.


Alike AUDUSD, the EURAUD also portrayed the Aussie's strength by dipping below five-month old ascending trend-line, which if maintained on a daily closing basis, can drag the pair to 200-day SMA level of 1.5845. Should the pair refrains to respect the 1.5845 rest-point, the 1.5800 and the 1.5720 might try threatening sellers, failing to do so could open the gate for 1.5650 and 1.5600 levels. Meanwhile, the 1.5950 and the 1.5975-85 seem restricting the pair's near-term advances ahead of highlighting the 1.6000 and the 1.6030 resistances. During the pair's successful rise beyond 1.6030, the 1.6120 and the 1.6145-50 confluence, including 50-day SMA & immediate descending TL, might trouble the Bulls.


AUDJPY's clearance of 80.60 pushes the pair towards 81.00 round-figure but the 81.25-30 may disappoint buyers afterwards, if not then 81.65 & 82.00 could be their next bets. In case the quote rules above 82.00 landmark, the 82.25 & 82.50 are expected levels to watch. Alternatively, 80.60 & 80.40-35 may offer nearby supports to the pair during its pullback whereas an upward slanting TL, at 80.00, can confine further declines. Though, the support-line's inability to tackle Bears may flash 79.00 & 78.50 on their radars to target.


Not only a D1 close beyond descending resistance-line stretched since June, but an apt closing above 100-day SMA level is also required for the AUDCHF to go ahead with its recent recovery otherwise its drop to 0.7140 & 0.7120 can't be denied. Given the pair's continued downside beneath 0.7120, the 0.7100 and an ascending support-line, at 0.7035, might be of concern as break of them can fetch the pair to 0.6965 & 0.6900 supports. On the upside, a daily close above 0.7165 & 0.7185 respective barriers can escalate the prices to 0.7215 and then to 0.7260-75 resistance-zone. Moreover, pair's successful trading above 0.7275 enables it to challenge the 200-day SMA level of 0.7305 and the 0.7320 resistance-levels.

This article was originally posted on FX Empire


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics


Latest Markets Videos

FX Empire

FX Empire is a leading global financial news portal, delivering up-to-date market news and analysis, streaming quotes and charts, technical data and financial tools tailored for the financial markets.

Learn More