USD-CHF @ 1.1495/98...Might dip before further rise

R: 1.16 / 1.1660 / 1.1720S: 1.1500-1480 / 1.1450 / 1.1400-1.1380

Dollar-Swiss is continuing to trade between 1.1480-1.16. Our view remains the same on the pair as mentioned in our Morning Commentary and is given below.

The Support at 1.1500-1.1480 is continuing to hold very well and is keeping up the overall bullish sentiment intact. However, failure to see a strong break above 1.16 over the last couple of days has now increased the chances of breaking below 1.1480 and see a downmove towards 1.4 or even 1.13 before further rise. Note that the 200-Week MA is at 1.1294. As mentioned earlier, the overall picture is still bullish, but we might see a pull back initially before further rise towards 1.17-18.

Limit Sell Order:Sell USD 10K at 1.1570, 1.1660, TP 1.1370

Limit Buy Order:Buy USD 10K at 1.1330, SL 1.1240, TP Open

GBP-USD @ 1.4590/93...Might rise towards 1.4700-50

R: 1.4625 / 1.4685-4700 / 1.4730-50S: 1.4540 / 1.4485 / 1.4450

Cable has bounced back from the day's low of 1.4490 and is trading higher now. As mentioned earlier, we might see further rise towards 1.4700.50 in the coming sessions. However, the broader picture continues to remain bearish and we might see a pull back from 1.4700-50 region. On the downside Support is seen at 1.4450 which is expected to hold in the US session today.

Limit Sell Order:Sell GBP 10K at 1.4730, SL 1.4820, TP Open

AUD-USD @ 0.8521/25...Might test the Resistance at 0.86

R: 0.8600-10 / 0.8725-40 / 0.8763S: 0.85 / 0.8460-40 / 0.8380

Aussie is trading silent between 0.8500-50 today. As no significant move on either side was not seen during the day, our view remains the same on the pair. Immediate Support is seen at 0.85 and the next Support is seen at 0.8460-40 which might hold if a break below 0.85 is seen in the US session today. While above 0.8460-40 Support region, there are good chaces of further rise towards 0.86 in the coming sessions. Note this 0.86 is a very significant Resistance level seen on the upside and if it holds, then we might see a pull back once again towards 0.84-83. A strong break above 0.86 might take it further up towards 0.8750-8800

Happy Trading!