|USD-CHF @ 0.7796/99...Bearish|
R: 0.7800 / 0.7850 / 0.7900
Dollar-Swiss dipped to a low of 0.7757 and has bounced back from there. However, it is finding Resistance near 0.7800. The overall bearish outlook remains intace and a test of 0.7700-7600 looks likely in the coming sessions. 0.7850 and 0.7900 are the significant Resistances seen on the upside which are expected to hold incase if a sharp rise above 0.7800 is seen. As mentioned in the morning comments we will be looking to Sell Order near 0.7900, but we will be watching the market to enter Short if the pair fails to see a rally to 0.7900 and pulls back from 0.7850 itself.
Limit Sell Order:
|GBP-USD @ 1.6236/39...Might 1.6200-6180 on the downside|
R: 1.6275 / 1.6330
Cable has dipped towards 1.6250 as expected and is keeping up our view of further dip to 1.6200 intact. Note that the 21-DMA Support is currently at 1.6178 and now it will have to be seen whether the pair can bounce back from 1.6200-6180 Support region or the downmove is going to extend further towards 1.6100. We will have wait and see what happens.
|AUD-USD @ 1.0830/33...Important Support at 1.0800|
R: 1.0850-60 / 1.0920
Aussie dipped sharply below 1.0900 and is heading towards 1.0800 as expected. As mentioned in our Morning comments, 1.0800 is a strong Support level and we expect it hold in the US session today. A bounce back to 1.0900-30 is possible from 1.0800. As such we will be looking to take Long position near 1.0800. A strong break below on the other hand, although not looking likely might take it down towards 1.0750-30.
Limit Buy Order: