SwissUSD-CHF @ 0.8633/36...Might rise to 0.8800-50

R: 0.8780-8800 / 0.8850-70
S: 0.8600 / 0.8550

Dollar-Swiss has risen above 0.8600. Strong Support is seen now near 0.8600 and a further rise to 0.8800-50 is on the cards now. The pair now will have to see a strong break below 0.8550 for a fresh move to happen. The immediate chaces of this is not looking likely. As such a dip to 0.8600 can be considered for taking Long positions.

 

Limit Buy Order:
Buy USD 10K at 0.8610, SL 0.8540, TP 0.8780

CableGBP-USD @ 1.6015/28...Ranged between 1.5900-6050

R: 1.6050 / 1.6127 / 1.6200
S: 1.5925-00 / 1.5800

Cable has risen sharply after the the BOE's decision to leave the interest rates unchanged at 0.50%. However, the Resistance at 1.6050 is still holding. Broadly the pair is ranged between 1.5915 and 1.6050 over the last couple of days. While 1.6050 continues to hold, a test of 1.5900 on the downside can be seen once again. Also a break below 1.5900 can take it further down to 1.5800 which is strong Support level seen on the downside. On the upside the pair needs to see a strong rise past the 200-DMA (1.6127) to ease the downside pressure. As of now the 1.5900-6050 range remains intact and we will have to wait for a breakout of this range.

 

Limit Buy Order:
Buy GBP 10K at 1.5835, SL 1.5760, TP 1.6035

AussieAUD-USD @ 1.0625/28...Outlook mixed

R: 1.0625-50 / 1.0700 / 1.0750
S: 1.0600-580 / 1.0550 / 1.0500

The 200-MA (1.0581) Support on the 4-hr chart is holding well and the Aussie had bounced back above 1.0600. However, the 1.0625-50 Resistance is still holding. The immediate outlook is mixed. We will have to wait for a break out on either side of 1.0580-1.0650 which would determine the further direction of move. A strong break above 1.0650 can take pair up to 1.0800-50 and a downside break below 1.0580 would pull it down to 1.0500. We will have to wait and see what happens.

 

Happy Trading!