"Swiss"USD-CHF @ 0.7940/43...Resistance in 0.7985-8000

R: 0.7985-8000 / 0.8100 / 0.8145-50
S: 0.7900 / 0.7800

Dollar-Swiss is continuing to trade above 0.7900 but is not showing much upside momentum. Resistance is seen in 0.7985-0.8000 region and we need to see a strong break above this Resistance for the upmove to extend up to 0.8100-50. The 21-MA on the 4-hr chart (currently at 0.7891) is the immediate Support level seen which has been holding well for some time. If it continues to hold and the pair gains upside momentum, a rise to 0.8100-50 cannot be ruled out. 0.7800 is a significant Support level and a strong break below it will have to be seen for the pair to gain downside pressure.

"Cable"GBP-USD @ 1.6510/14...Resistance-turned-Support at 1.6475 holding now

R: 1.6580-6600 / 1.6650-80
S: 1.6500-6475 / 1.6400 / 1.6330-00

The Resistance-turned-Support at 1.6475 mentioned in our Morning comments is holding well as of now but Cable is not gaining upside momentum. This leaves the threat of seeing a break below 1.6475 in the coming sessions. A break below 1.6475 would take the pair down to 1.6400 and a further break below 1.6400 would see 1.6330-00 on the downside. On the other hand while 1.6475 contiues to hold we see good chances of a further rise to 1.6650-80. This week's close will be very significant to be watched.

"Aussie"AUD-USD @ 1.0450/53...Might dip further

R: 1.0500 / 1.0585-0600 / 1.0640-50
S: 1.0400-0385 / 1.0320-00 / 1.0200

Aussie has dipped below its Support at 1.0480. A further dip to 1.0400-0385 looks likely in the coming sessions. Also a test of 1.0300 looks likely on a strong break below 1.0400. While 1.0400 holds, there could be chances of seeing a rise once again to 1.0500-0600. The broader picture is bearish and we might expect sellers coming in at 1.0600 levels. Note that the significant 200-DMA Support is at 1.0316 and a close below 1.0300 will be very bearish for the pair.


Happy Trading!