SwissUSD-CHF @ 0.9217/20...Bullish

R: 0.9320 / 0.9400 / 0.9500-20
S: 0.9250 / 0.9220 / 0.9150

Dolla-Swiss witnessed a sharp rise in the final trading sessions last week. The overall picture remains bullish with good Support in the broad 0.9200-9100 region. A dip to this 0.9200-9100 Support region can be bounght. A further rise to 0.9400-500 is possible in the coming days/weeks. 0.9400 [50% retracement level of the strong fall from 1.1731 (May-10) to 0.7066 (Aug-11)] and 0.9520 (Trendline) are the significant Resistance levels to be watched on the upside. A pull back is possible from this 0.9400-9500 Resistance levels.

 

Limit Buy Order:
Buy USD 10K at 0.9170, SL 0.9110, TP 0.9400

EUR-CHF (1.2416) has risen above the 200-DMA (1.2338) and looks bullish for an immediate rise to 1.2500. In the bigger picture the pair could target 1.2700-50 on the upside.

CableGBP-USD @ 1.5607/10...Might rise to 1.5700-5800

R: 1.5680 / 1.5700 / 1.5800
S: 1.5530-00 / 1.5400 / 1.5300-270

Cable has bounced back well from its low of 1.5271 last week. Significant Support is seen at 1.5500 and then at 1.5400 and while these Supports holds, we see good chances of a rise to 1.5750 or even 5800. Also there is a possibility of a Double-Bottom on the daily chart. A strong break/close above 1.5700 would confirm this. Having said this a rise to 1.5700 looks more likely this week and a further rise to even 1.5800 cannot be completely ruled out. It will be very important to see what happens after the rise to 1.5700-5800. Failure to rise past strongly above 1.5800 would still keep the bearish outlook alive for a fall to 1.5200-5000 which we have been looking for some time.

AussieAUD-USD @ 0.9835/38...Might rise further.

R: 0.9880 / 0.9932 / 1.0000
S: 0.9700-9670 / 0.9600 / 0.9500

Aussie has risen well above the 100-Week-MA (currently at 0.9673) last week. 0.9880 and 0.9932 (21-DMA) are the significant immediate Resistances to be watched. A strong rise past the 21-DMA can take the pair further up to 1.0000 or even 1.0070-1.0100. While the 21-DMA (0.9932) holds, there could be chances of a test of 0.9700-9670 on the downside. Also the failure to rise past the 21-DMA Resistance will keep the overall bearish outlook intact. We will have to wait and see what happens.

 

Happy Trading!