|USD-CHF @ 0.9724/28...Bullish. Buy dips|
|R: 0.9750 / 0.9850-70 / 0.9925|
S: 0.9700 / 0.9650 / 0.9750
Dollar-Swiss has risen well breaking above its Resistance at 0.9600 last week. Immediate Support is seen at 0.9700 and then Strong Support is seen at 0.9600 and only a break below 0.9600 would reverse the current bullish sentiment. While above 0.9600, there is a good chance of further upmove towards 0.9850-0.9900 this week. Also Double Bottom pattern is seen on the charts and if this pattern gets confirmed, then a strong break above 0.9850 would open doors for further rally towards 1.0150 in the coming weeks. Overall the pair is expected to remain bullish and a dip towards 0.9600 can be considered for taking Long positions during the week. Incase if the rally happens from current levels, then we will be looking to buy on a break above 0.9750.
Limit Buy Order:
Stop Loss Buy Order:
|GBP-USD @ 1.5994/98...Bearish. Sell rallies|
|R: 1.6070-6100 / 1.6180-6200 / 1.6250|
S: 1.5900 / 1.5840 / 1.5751
Cable is remaining weak. Lack of upside momentum is keeping the pair pressured on the downside. Even today it failed to sustain the bounce above 1.6000 and has come off from the high of 1.6077. As such the pair is expected to remain weak for this week and we might see further fall towards 1.5850-5750. We see series of Supports on the downside at 1.5848 (21-Week-MA), 1.5793 (21-Month-AM) and 1.5751 (8-Month-MA). As such the downmove could happen slowly. Having said that, we will be trading from the short side for the week. As such a rally to 1.6050-6100 can be considered for taking Short position. However, 1.6077 has happened already today and we are not sure whether we will get once more rally to enter the short trade. Also we do not want to enter the short at the market if the fall continues since we see series of Supports which are mentioned above. As such we will wait for a rally to enter the short. If a bounce back happens from 1.5900-5850, then we might look to enter Long, which we will be watching during the week.
Limit Sell Order:
|AUD-USD @ 1.0006/09...Bullish. Buy dips.|
|R: 1.0070-0100 / 1.0180-0200|
S: 0.9970 / 0.9925 / 0.9875
Aussie is continuing to trade lower after last week's sharp fall. Continued failure to see a strong rise past 1.0200 is disappointing. However, the overall trend is still up and we see strong Supports at 0.9955 (Trendline Support on the Monthly candles), 0.9923 (21-Week-MA) and 0.9875 ( Trendline Support on the weekly candles). Since the broader outlook remains bullish we would wait for a dip to 0.9950-00 Support region to enter Long position this week.
Limit Buy Order: