R: 0.8750 / 0.8800 / 0.8850 S: 0.8700 / 0.8600 / 0.8600
Dollar-Swiss is continuing to trade above 0.8700 but is not showing much upside momentum. The intermediate Resistance at 0.8750 mentioned in our morning comments is holding well and is still keeping alive the chances of testing 0.8600 on the downside. The outlook is not clear and we could expect a sideways range if 0.8600-8900 for some time. We continue to stay out of the market.
GBP-USD @ 1.5795/98...Watch Resistance at 1.5870
R: 1.5825 / 1.5870 / 1.5925 S: 1.5750 / 1.5700Cable is ranged between 1.5750-5850.
With no significant move seen on either side during the day, our view remains the same. The broader bearish outlook intact. However, the pair is not showing much downside momentum and is now oscillating aroung 1.5800 for some time. We continue to remain bearish while the pair trades below 1.5900 and our view remains bearish for a fall to 1.5450 on a strong break below 1.5700. Only a strong break/close above 1.5900 will ease the downside pressure.
Limit Sell Order: Sell GBP 10K at 1.5865, SL 1.5925, TP 1.5720 Sell GBP 10K at 1.5865, SL 1.5935, TP Open
AUD-USD @ 1.0345/48...Watch 200-DMA Resistance at 1.0390
R: 1.0390-0400 / 1.0480-0500 / 1.0500 S: 1.0300 / 1.0200-180
Aussie is ranged between 1.0300-0400. No significant movement since the Asian session today. Our view is the same. Important 200-DMA Resistance is currently at 1.0390. We expect the 200-DMA Resistance to hold. However, as the pair has found good Support at 1.0178 and has risen well, we see equal chances of a rise past 1.0400 as well which could open doors for further rise to 1.0500-50. As such the immediate outlook is not clear and we need to wait and see as what happens to this 200-DMA Resistance level.
Limit Sell Order: Sell AUD 10K at 1.0380, SL 1.0425, TP 1.0220