Swiss USD-CHF 1.0445/48...Ranged with a bullish bias

R: 1.0480-510 / 1.0550 / 1.0615-35
S: 1.0400-384 / 1.0348 / 1.0281

We continue to hold our morning view on the pair.Dollar-Swiss was moving in the region of 1.0400-600 last week honouring the strong Support at 1.0400-384 and the Resistance at 1.0600-35. In the past few sessions, the pair has been moving in a very narrow range of 1.0360-440 but has not been able to break below the Support at 1.0400-384, which may lead to some rally on the pair in the coming days.

Overall, while above 1.0400-384, the pair may continue to move in the range of 1.0400-600, before we see it break on the either side going forward. A break on the lower side may see the pair fall towards 1.0250-00 in the coming week, however, a break on the higher side may take it towards 1.07 in the coming weeks/months. Our preference is of an upmove rather than a downmove.

USD 10K Long at 1.0400, SL 1.0345, TP Open

Cable GBP-USD @ 1.5838/41...Huge double bottom on the monthly charts

R: 1.5854 / 1.5967 / 1.6027
S: 1.5635 / 1.5700 / 1.5758

Cable has moved above the Resistance at 1.5725-50 region and is currently trading above 1.5800. The suggested max high for the day is 1.5854. We may see some sideways movement in the region of 1.5775-850, before a rally towards 1.60 figure in the coming days.Overall, the huge double bottom on the monthly charts is becoming more and more evident and may result in a very strong upmove on the pair in the coming weeks/months.

Aussie AUD-USD 0.9116/19...Strong Resistance at 0.9130-60

R: 0.9130 / 0.9160 / 0.9250
S: 0.9050 / 0.8950 / 0.8900

Aussie touched a high of 0.9136 in the Asian session today and is currently trading lower. The pair is near very important Resistance levels on the Monthly Charts (strong Trendline Resistance at 00.9155 connecting the high of Jul-08 (0.9849) and High of Nov-09 (0.9405)) Weekly Charts (Short-term Trendline Resistance at 0.9120-30) and the Daily Charts (Channel Resistance at 0.9130-40 accomapnied by a tredline Resistance at 0.9160). We see good chances of the pair honouring these Resistances and coming down towards 0.9000-8900 in this week. The chances of a beak above these levels are less.

Happy Trading!