NZD/USD Technical Analysis ~~ As suggested earlier, the counter found support at the supportive trendline and bounced off. ~~ Now, it has broken the resistive trendline as well and consolidating just above it. ~~ We expect the pair resume to bull trend and head to the immediate resistance marked in the chart. ~~ The support zone marked in the chart can cap the declines.
EUR/CHF Technical Analysis ~~ The strength of Swiss Franc bewilders us as it was able to contain the hottest currency like Euro. ~~ Despite EUR/USD & EUR/JPY moving to great heights, it is still in bearish territory and the counter has absorbed intense buying pressure. ~~ Technically, the formation resembles a round top and so a sell-off is on the cards when the Euro corrects against erstwhile currencies.
GBP/CHF Technical Analysis The counter is currently in a 3-wave bear cycle. Further, it is currently forming wave B in the form of a bearish flag pattern and is close to the resistance zone. Hence, we expect the pair to find resistance around this area and commence its wave C.
EUR/GBP Technical Analysis ~~ The counter is now on the verge of completing a 3-wave bear cycle. ~~ It is now approaching a strong demand zone which also coincides with the 61.8% retracement of the entire rally. ~~ We expect the pair to kickstart a fresh bull cycle from here.
USD/CHF Technical Analysis ~~ The counter has broken off from a falling wedge pattern. ~~ It is now hovering around the broken trendline. ~~ We expect the support zone to arrest any pullback and catapult the prices higher.
AUD/USD Technical Analysis ~~ The counter has been in the declining mode for the last 2 days. ~~ It made an inverse head and shoulder and has broken the neckline. ~~ Further, it has broken the immediate trendline as well. ~~ Hence, we expect the pair to be bullish in the near-term.
EUR/USD Technical Analysis ~~ The counter is maintaining its positive bias by holding the support of the ascending channel. ~~ As the preceding move also steep, the price needs a bullish correction at the least. ~~ Hence, we expect the pair to be bullish for the next few sessions.
AUD/JPY Technical Analysis ~~ AUD/JPY has bounced off from a supportive trendline. ~~ However, the recent fall has depleted the bullish momentum in the counter its now in a rising wedge formation. ~~ We expect the pair to move to trade with bullish bias.
GBP/USD Technical Analysis ~~ The counter's dynamics have changed drastically this week. ~~ It turned bearish abruptly due to the risk of no-deal Brexit. ~~ And there has been a significant amount of longs trapped. ~~ It broke the support of 1.30100 which is now capping the rally. ~~ We expect the pair to move down significantly as long as the pair stays below this level.
NZD/JPY Technical Analysis ~~ The zone of 71.100-200 proves to be a tough nut for the pair. ~~ Despite multiple attempts, the price is unable to break above it. ~~ Further, the price action has formed an evening action star pattern at the resistance zone. ~~ Hence, we expect the pair to be bearish in the near-term.