|USD-CHF @ 0.9740/43...Important Resistance at 0.9750|
|R: 0.9750 / 0.9845 / 0.9950|
S: 0.9700 / 0.9620-00 / 0.9550
Dollar-Swiss is continuing with its upmove and is now trading just below its important Resistance at 0.9750. As mentioned in our Morning comments 0.9750 is a very important Trendline Resistance seen on the monthly chart which we expect to hold. A pull back from 0.9750 might see 0.9650-00 on the downside. On the other hand a strong break/close above 0.9750 today would open doors for a further rise towards 0.9850-0.9900.
|GBP-USD @ 1.5991/93...Might dip further|
|R: 1.6020-35 / 1.6100 / 1.6150-70 |
S: 1.5920 / 1.5850
Contrary to our expectation, Cable fell sharply during the day and is now trading below 1.6000. While below 1.6000 there is a chance of further dip towards 1.5900-5850 in the coming sessions. Today's closing will have to be watched as it would play a very significant role in the direction of move going forward. We would want to stay away and just watch the market.
We got stopped out of the Long position entered at 1.6073 losing 93 pips.
|AUD-USD @ 0.9979/81...Important 21-Week-MA Support at 0.9902|
|R: 1.0000-30 / 1.0100-20 / 1.0180-0200|
S: 0.9940 / 0.9910-00
Aussie is continuing to trade lower below 1.0000. Our view remains the same. While below 1.0000 we see chances of further dip to 0.9930-00 today. Important to note that the significant 21-Week-MA which is keeping the overall uptrend intact is currently at 0.9902. We will have to wait and watch whether this 21-Week-MA continues to hold or not. As of now we are staying out of the market.
We got stopped out of the Long position entered at 1.0040 losing 80 pips.