|USD-CHF @ 0.9673/76...Might rise to 0.9750 once again|
|R: 0.9700 / 0.9750 / 0.9850|
S: 0.9600 / 0.9550 / 0.9500
The important Support at 0.9600 has held well and Dollar-Swiss has risen sharply from near this SUpport. The broader bullish view remains intact. A further rise once again to 0.9750 looks likely in the coming sessions. A strong break above 0.9750 would take it further up towards 0.9850. On the downside the Support at 0.9600 is expected to continue to hold.
USD 10K Long at 0.9625, SL 0.9560, TP Open
|GBP-USD @ 1.6045/48...21-DMA Support at 1.6027|
|R: 1.6100 / 1.6175-6200|
S: 1.6027 / 1.5950 / 1.5900
Cable fell sharply from its high of 1.6180 and is now trading lower below 1.6100. The BOE's inflation report release today said that the inflation is likely to fall below its target of 2% in two years. This statement release triggered the fall in the Cable. Technically the Resistance in 1.6175-6200 region has held well. Although we expected a pull back from this Resistance region, we did not expected it to be a sharp pull back. Now we have the 21-DMA Support level (currently at 1.6027). We will have to wait and watch whether this 21-DMA Support holds or breaks.
|AUD-USD @ 0.9986/89...Bullish. Support at 0.9970 holding|
|R: 1.0030-50 / 1.0100 / 1.0150|
S: 0.9970 / 0.9920 / 0.9870
Aussie failed to see a strong break above 1.0000 today. However, the Support at 0.9970 mentioned in our Morning comments is also holding well. With no significant movement on either side seen during the day, our view remains the same. The overall bullish sentiment remains intact. We have entered Long at the market since our Limit Buy order was missed by 13 pips. Intraday Support is seen at 0.9970 and if it holds we might see a bounce back once again towards 1.0100-0200 in the coming days. In the broader picture the 21-Week-MA (currently at 0.9922) is an important Support level to watch for which is expected to continue to hold and keep the overall uptrend intact. As such we retain the Limit Buy Order at 0.9930 also.
Limit Buy Order: