USD-CHF @ 1.1316/19...Narrowly ranged

R: 1.1350 / 1.1380-1.14 / 1.430 S: 1.1282 / 1.1191 / 1.1140

Dollar-Swiss is continuing to trade lower. The 200-Week-MA (1.1282) was tested during the day and it has bounced back slightly from the low of 1.1275. However, still much upside momentum is not seen and is retaining the downside pressure. As no significant move on either side was not seen during the day our view remains the same on the pair. A strong break below 1.1280 might pull it further down towards 1.1220-00 on the downside today. Note that the projected Max-Low for the day is 1.1191. However, if the 200-Week-MA (1.1282) continues to hold and the pair gains upside momentum we might see a rise towards 1.1380-1.1400 in the US session today. Overall we expect the pair to trade below 1.14 for some time.

GBP-USD @ 1.4782/85...Support at 1.4760

R: 1.4830 / 1.4885 / 1.4917 S: 1.4760 / 1.4715-00 / 1.4665

Though a strong upmove above 1.48 was not seen during the day, the Support at 1.4760 mentioned in our Morning Commentary is holding very well and is keeping up the chances of a rise towards 1.4900-20 in the coming sessions. Note that 1.4917 is the 55-DMA which is the next significant level seen on the upside and a strong break above it might take the pair further up towards 1.5000-50. Any sharp downmove is not looking likely now. However, a strong break below the Support at 1.4760 might pull it down towards 1.47.

AUD-USD @ 0.8608/12...Support at 0.8550-30 region

R: 0.8660 / 0.8755 / 0.8800 S: 0.8600 / 0.8550-30 / 0.8570

Aussie is ranged between 0.8600-60 since the Asian session today. As mentioned earlier, good Double-Bottom pattern seen on the daily candles. With this pattern Support at 0.8550-30 region which is expected to hold, we expect Aussie to rise further up towards 0.8750-0.8800 in the coming sessions/days. Note 0.8755 is the 55-Week-MA which is the next significant Resistance level to watch for. To see the Double-Bottom pattern on the AUD-USD daily candles click on the following link:

Happy Trading!