|USD-CHF @ 0.9113/17...Bullish. BUt watch Resistance at 0.9225|
R: 0.9225 / 0.9400 / 0.9500
Dollar-Swiss has bounced back well from last week's low of 0.8918 and is keeping up our bullish view intact. Strong Support is seen in the broad 0.9000-8900 region. A further rise to 0.9200-25 is possible in the coming sessions. 0.9225 is a significant Resistance level to be watched on the upside. If it hold there could be a pull back to 0.9000 this week once again. However the bigger picture remains bullish and any pull back move would be short lived. A strong rise past 0.9225 would target 0.9400-9500 on the upside.
Limit Buy Order:
|GBP-USD @ 1.5502/05...Bearish.|
R: 1.5565 / 1.5600 / 1.5650
Cable found strong Resistance in 1.5650-5700 last week. Failure to see a strong rise past 1.5700 keeps the broader bearish outlook intact. Some Support is seen in 1.5450-25 region and a strong break below this Support region would trigger further fall to 1.5200 or even 1.5000 in the coming days. On the other hand if 1.5450-25 holds, we might see an intermediate bounce back to 1.5600-50. A rally to 1.5650 can be considered for taking Short positions this week.
Limit Sell Order:
Trade ideas for the week:
|AUD-USD @ 0.9625/28...Bearish. Can fall further|
R: 0.9680 / 0.9750-75
Aussie fell shaply last week from its high of 0.9986 and is now trading below its important 100-Week-MA (0.9666). The overall picture remains bearish and a further falll to 0.9250 or even 0.9000 is on the cards. 0.9670 and 0.9750 are the significant Resistance levels to be watched on the upside. A strong break above 0.9750 will have to be seen to ease the downside pressure. But an immediate strong rise past 0.9750 is not looking likely.
Limit Sell Order: