|USD-CHF @ 0.9653/56...Bearish. Sell rallies|
|R: 0.9700 / 0.9750-70 / 0.9810|
S: 0.9600 / 0.9530-00
Dollar-Swiss is trading in a narrow range of 0.9635-75 today. With no significant movement seen on either side our view remains the same. While above its significant Support at 0.9600 there are chances of a seeing a rise towards 0.9730-50 once again in the coming sessions. However, the broader outlook is bearish with strong Resistance in 0.9750-70 region which is expected to hold. As such a rally towards 0.9750 can be considered for taking Short positions.
Limit Sell Order:
|GBP-USD @ 1.5927/30...Bullish. Holding Long|
|R: 1.5990-6000 / 1.6120 / 1.6200|
S: 1.5880 / 1.5820-00 / 1.5750
Cable has risen further and is now trading above 1.5900. The overall bullish view is intact and we might see further rise towards 1.6000-6100-6200 in the coming days. On the downside 1.5820-00 is a very significant Support region seen and an immediate break below this Support region is not looking likely.
|AUD-USD @ 0.9952/55... Knocking resistance at 0.9970|
S: 0.99/ 0.98050/0.98.
Aussie recovers strongly and is now trading well above the 0.99 handle. Resistance is offered around 0.9970 and we could see some ranged activity in the US session. OUr overall view remains same as morning.
Australian flood situation is yet to get better as government officials express concern over the damaging after effects from the floods. However, we strongly believe that Aussie dollar remains a high beta play on risk plays around the globe. Therefore, a breakdown in the pair will have wide ramifications for the global financial and commodity markets. Having said that, Aussie remains well supported around 0.97-0.9750 region and only a move below that level can be termed as a danger for the pair. Aussie is expected face resistance around 0.9970-1.00 and a break above 1.0020 can see prices test 1.02-1.03. However, if such a rally were to occur then that will be a final leg in the bull trend from 0.8050.