|USD-CHF @ 0.8210/13...Might rise to 0.8300-50|
R: 0.8235-50 / 0.8300 / 0.8350-60
Dollar-Swiss dipped to a low of 0.8120 and has risen sharply from there. The broader bullish outlook remains intact. A rise to 0.8300-50 is on the cards. As mentioned in our Morning comments, there is no immediate threat on the downside. The pair could not find Support at 0.8150 and then in 0.8100-8090 region. We expect it to continue to trade above 0.8100. Only a strong break below 0.8100 will reduce the chances of seeing 0.8300+ levels.
Limit Buy Order:
|GBP-USD @ 1.6303/06...Might test 1.6200 on the downside|
R: 1.6325 / 1.6400 / 1.6450-75
Contrary to our expectation, Cable fell sharply during the day and is now trading below 1.6300. Immediate Resistance is seen at 1.6330 (200-MA on the 4-hr chart). While below this Resistance, we see good chance of further dip to 1.6250-00 in the coming sessions. 1.6200 is a significant Support level seen on the downside and a bounce back to 1.6300-50 is possible from 1.6200. Failure to bounce back from 1.6200 can take it further down to 1.6130-00. Note that 1.6110 is the 200-DMA Support level and a further break below 1.6100 is not looking likely.
Limit Buy Order:
|AUD-USD @ 1.0651/54...55-DMA (1.0619) holding well|
R: 1.0680-0700 / 1.0750 / 1.0780-800
Aussie dipped to a low of 1.0621 and is bouncing back from there. Technically the 55-DMA (1.0619) is holding well and is keeping up the chances of further rise. While above 1.0600, a test of 1.0780-0800 on the upside looks likely in the coming sessions. We expect the pair to continue to trade above 1.0600. Strong Support is seen at 1.0550 and there is not threat on the downside while the pair trades above 1.0550.