AUD/CHF Technical Analysis: Buyers keep lurking around 0.7045/50

Anil Panchal FXStreet

AUD/CHF daily chart

AUD/CHF trades near 0.7070 during early Thursday.
The quote dropped to 0.7045 after Australian data flashed mixed signals but couldn’t break 0.7050-45 horizontal-area that has been challenging sellers since January 15.
Should the pair declines beneath 0.7045, it can take 0.7000 as an intermediate halt ahead of visiting 0.6980 rest-point.
During the pair’s additional downside under 0.6980, 0.6940 may act as a buffer prior to highlighting the 0.6880-70 support-zone.
On the upside, 50% Fibonacci retracement of its May 2018 to January 2019 drop, at 0.7125 could restrict immediate advances whereas 0.7155 and 200-day simple moving average (SMA) of 0.7185 might entertain Bulls then after.
Though, a descending trend-line joining December 2018 high to a previous month high, at 0.7205, may limit the pair’s rise.

AUD/CHF 4-Hour chart

A downward sloping resistance-line connecting highs of February 27 to March 06, at 0.7110, seem adjacent resistance for the pair.
Also, 0.6960 can provide a stop to the decline between 0.6980 and 0.6940.

AUD/CHF hourly chart

0.7075 is likely to close resistance before 0.7110 trend-line barrier.
61.8% Fibonacci retracement of its February 21 to March 06 moves near 0.7030 can question bears’ strength under 0.7040.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.