SwissUSD-CHF @ 0.9422...Bearish
R: 0.9470 / 0.9520-30 / 0.9600-20
S: 0.9400 / 0.9350-30

 

Dollar-Swiss failed to see a strong break below 0.9400 and has risen slightly from its low of 0.9390. It is now trading above 0.9400. Our view remains the same as mentioned in our Morning comments and its is given below.

The broader bearish sentiment is intact. Resistance seen at 0.9470 and a break above it might take it up towards 0.9520-30 in the coming sessions. An immediate break above 0.9530 is not looking likely and we might see a pull back from 0.9520-30 region. On the downside 0.9350-30 is a significant Support region which might be tested on a break below 0.9400.

CableGBP-USD @ 1.5955...Might test 1.6030-50 Resistance region
R: 1.6000 / 1.6030-50 / 1.6110
S: 1.5900-5880 / 1.5820-00 / 1.5770-50

 

Cable has risne above its Resistance at 1.5935 and is trading higher now. With significant Support in 1.5900-5880 region, a further rise towards 1.6030-50 looks likely in the coming sessions. Remember 1.6049 [38.2% Retracement level of the fall from 2.0149 (Jul-08) to 1.3514 (Jan-09)] is very important Resistance level to watch for and a break above it might trigger fresh upmove towards 1.6200-6300 in the coming days. The pair is looking strong in its current upmove and we expect the Suppport in 1.5900-5880 region to hold in the US session today. However, a strong break below 1.5880 might increase the chances of a dip once again towards 1.5800-5750.

 

AussieAUD-USD @ 0.9919...Cautious
R: 0.9945 / 1.0000-25 / 1.0100
S: 0.9880 / 0.9830-00

 

Aussie has dipped further during the day. A test of its important 0.9830-00 Support region looks likely in the coming sessions. As we had mentioned earlier, a break below 0.9800 would reverse the strong uptrend. We are little cautious this time as the pair has repeatedly failed in its attempts to rise past 1.0000. We would want to stay away and watch. On the upside 1.0000-25 remains the important Resistance region and only a strong break above this Resistance region would ease the current downside pressure and the threat of the trend reversal.