SwissUSD-CHF @ 0.8821/24...Bearish

R: 0.8900 / 0.9000
S: 0.8770-50 / 0.8670-50

Dollar-Swiss failed to break above 0.8900 and is now hanging near its Support at 0.8800. As mentioned in our Weekly view, this failure to bounce back above 0.8900 now confirms the Head and Shoulder pattern and now we see a threat of a fall to 0.8500 going forward. However, important and intermediate Supports seen in 0.8770-50 region and in 0.8670-50 region as well. Overall the pair is now bearish for a fall to 0.8650 or even 0.8500 and only a strong rise past 0.8900 and 0.9000 will ease the downside pressure.

CableGBP-USD @ 1.5972/75...Resistance at 1.6013 holding well

R: 1.6013-23 /. 1,6047
S: 1.5900 / 1.5800 / 1.5700

The Trendline Resistance at 1.6013 mentioned in our Weekly view yesterday is holding well and Cable has come off from its high of 1.6008. Significant Resistances is also seen at 1.6023 and 1.6047 (21-Week-MA). Having said this the upside could be restricted to 1.6050 for some time. A dip to 1.5900 looks likely in the coming sessions. A strong break below 1.5900 can revisit 1.5750-00 on the downside. The immediate outlook is bearish for a test of 1.5900 on the downside and we will have to wait and see what happens from there.

AussieAUD-USD @ 1.0451/54...Might rise to 1.0630-50

R: 1.0500 / 1.0630-50
S: 1.0400 / 1.0370-50

Aussie witnessed a sharp rise above its Resistance at 1.0438 to test 1.0500 on the upside.It has come off from its high of 1.0501 but is not showing much strength on its downmove. while above 1.0400, the outlook is bullish for a rise to 1.0630-50. An immedaite break below 1.0400 is not looking likely and this current pull back from 1.0500 could be short lived. However, a sharp fall is possible from 1.0630-50 region.


Happy Trading!