|USD-CHF @ 0.8737/40...Can fall to 0.8600 while below 0.8800|
R: 0.8800 / 0.8830-50 / 0.8900
Dollar-Swiss fell from the day's high of 0.8797 to a low of 0.8720 and has now bounced back slightly. As mentioned in our Morning comments, failure to see a strong break/close above the 200-DMA over the last few days and the last three days of down candles is leaving the pair vulnerable for a fall to 0.8600. BUt a strong break below 0.8700 will have to be seen for the fall to extend to 0.8600. While below 0.8800, we see high chances of a fall to 0.8600.
|GBP-USD @ 1.5804/07...Can test 1.5870-5900 Resistance region|
R: 1.5830 / 1.5870-5900 / 1.6025
Cable has found Support near 1.5735 and has risen above 1.5800. It needs to be seen whether it can sustain above 1.5800 in the coming sessions. Also there is important Resistance in 1.5870-5900 region which needs to be broken to ease the downside pressure. As such the current bounce back move could be restricted to 1.5900 and a pull backto 1.5700 can be seen from 1.5900.
We got stopped out of our Short position entered at 1.5755 losing 80 pips.
|AUD-USD @ 1.0282/85...Range Resistance in 1.0280-0300 region|
R: 1.0280-0300 / 1.0385-0400
Aussie has risen well from its range Support near 1.0180 and is now trading in its range Resistance 1.0275-0300 region. We expect this sideways range of 1.0178-0300 to continue and a pull back to 1.0200-0180 is possible in the coming sessions. On the other hand a strong break above 1.0300 can take the pair further up to 1.0385-0400 on the upside. Note 1.0385 is the 200-DMA Resistance level and an immediate further break above 1.0400.