SwissUSD-CHF @ 0.7880/83...Might dip to 0.7800

R: 0.7980-8000 / 0.8100 / 0.8140
S: 0.7800 / 0.7720 / 0.7630

Dollar-Swiss has dipped below its Support at 0.7900. It can now test 0.7800 on the downside while below 0.7900. The overall trend is still down and a strong break below 0.7800 would trigger a fresh fall going forward. While 0.7800 holds, there could be chances of a bounce back to 0.8000 once again. With this dip below 0.7900, the chances of seeing 0.8100-50 on the upside is now very less.

CableGBP-USD @ 1.6555/58... Might rise to 1.6600-50

R: 1.6600 / 1.6650-80
S: 1.6475 / 1.6420-00 / 1.6330-00

Cable has risen back well above 1.6500 thereby reducing the downside threat. With this strong bounce we see good chances of the pair moving up further to 1.6650-80 while above 1.6500-6475 Support region. A strong break/close below 1.6475 today will be bad for the pair as it would reduce the chances of seeing 1.6650-80 on the upside. We will have to wait and see how the pair closes today for the week.

AussieAUD-USD @ 1.0439/42...200-DMA holding well

R: 1.0450 / 1.0500 / 1.0550
S: 1.0400 / 1.0300

The 200-DMA (1.0319) is holding well and the Aussie has risen sharply from its low of 1.0315. There is Resistance at 1.0450 and a strong break above it would take it further up towards 1.0500-50 in the coming session. Strong Resistance is seen at 1.0550 and an immeidate break above it is not looking likely. As such we might expect a pull back from 1.0550 if the current upmove extends till there. On the other hand if 1.0450 itself holds, we might see a test of the 200-DMA once again.

 

Happy Trading!