SwissUSD-CHF @ 0.8841/44...21-DMA Resistance at 0.8896

R: 0.8896 / 0.8950 / 0.9000
S: 0.8800-8770 / 0.8718

Contrary to our expectation, Dollar-Swiss failed to extend its downmove and has bounced back well above 0.8800 during the day. The 21-DMA (currently at 0.8896) will be an important Resistance level to be watched and a strong break/close above this Resistance region will have to be seen to ease the downside pressure. While below this 21-DMA Resistance, the chances of testing the 200-DMA Support (0.8718) is still alive. We will have to wait and see what happens in the US session today and how does the market closes for the week.

CableGBP-USD @ 1.6010/13.....Outlook mixed

R: 1.6050 / 1.6080-6100 / 1.6140-50
S: 1.6000 / 1.5950 / 1.5900

Cable is continuing to trade above 1.6000, but is not showing strength on either side and is ranged between 1.6000-50. The immediate outlook is mixed with 50-50 chances of moving on either side. However, while above 1.6000, there is good chance of seeing 1.6100-50 on the upside. We would prefer to stay out of the market now and watch how the market closes for the week today to get que on the direction of move for next week.

AussieAUD-USD @ 1.0387/90..Support at 1.0350

R: 1.0400-25 / 1.0450 / 1.0500
S: 1.0350 / 1.0300 / 1.0200

Aussie is trading mixed. It neither gaining upside momentum for a strong rise above 1.0400 nor gaining downside momentum to dip sharply below 1.0400. Our view remains the same. With Support at 1.0350, a further rise to 1.0480-0500 looks likely in the coming sessions. Only a strong break below 1.0350 will reduce the chances of further rise. It will be important to see what happens after the test of 1.0500. Whether 1.0500 holds or breaks will determine the further direction of move.


Happy Trading!