|USD-CHF @ 0.9098/9101...Bullish|
R: 0.9100 / 0.9180 / 0.9235-50
Dollar-Swiss has risen well above the 200-DMA (currently at 0.8805) last week and is currently finding good Support near 0.9000. While above 0.9000 the outlook is bullish for a rise to 0.9200-50 this week. 0.9235-50 is an important Resistance region seen on the upside which might hold in its first test. However, a strong break above 0.9250 can take the pair further up to 0.9400-9500. Immediate Support is there at 0.9057 (55-Week-MA). Overall, with lack of downside momentum, the broader outlook remains bullish for the pair and a dip to 0.9000 if seen can be bought.
Limit Buy Order:
|GBP-USD @ 1.5452/55...Bearish|
R: 1.5480-5500 / 1.5600 / 1.5700
Cable fell sharply below 1.5700 last week. The broader picture remains bearish with Resistance at 1.5500. Some Support is seen at 1.5350 and a strong break below it would trigger further fall to 1.5000-4900 going forward. Only a strong rise past 1.5500 would ease the downside pressure a bit. But with lack of upside momentum, a strong rise past 1.5500 is not looking likely now. As such the pair is expected to continue to trade below 1.5500 and remain pressured on the downside.
Market Trade (at the time of writing):
|AUD-USD @ 0.9691/94...Bearish|
R: 0.9725 / 0.9800-30
Aussie fell sharply below parity last week. The 100-Week-MA (currently at 0.9663) is now an important Support level to be watched and a strong break below it can trigger further fall to 0.9250. The 100-Week-MA was tested today and the pair is bouncing back from its low of 0.9622. But much strength is not seen in its bounce back move now. Also faliure to rise past 0.9800 last week after the sharp fall below 1.000 could keep the pair pressured on the downside. As such we expect a further fall to 0.9250 going forward. A rally to 0.9800 if seen can be considered for taking Short positions.