USD-CHF @ 1.1606/09...Ranged

R: 1.1687 / 1.1796

S: 1.1574 / 1.1531

Swiss continues to be ranged bound by the 21-MA on the 4-hourly at the bottom and by the 38.2% Fibonacci retracement of the rise from 1.0692 (22nd Sep 2008) to 1.2300 (21st Nov 2008) at 1.1687 on the top. This week's candle has taken Support at 61.8% retracement of the fall from 1.2300 (21st Nov 2008) to 1.0371 (29th Dec 2008) at 1.1574.

Also the 13-week MA Support at 1.1531 provides good Support for the week, which has the potential to keep the pair bullish towards 1.17 and 1.18 eventually.

To see the chart of Swiss, click on:

Cable GBP-USD @ 1.4196/99...Could get volatile as BoE meet approaches

R: 1.4313 / 1.4441

S: 1.3967 / 1.3788

Cable has traded within the range of 1.4080-1.4300 mentioned in the morning, to be precise, between 1.4156-1.4273 ahead of the BoE meet scheduled later in the week. The sessions ahead could possibly see higher amplitudes than being seen currently. On the upside, the 55-day MA should possibly provide some good Resistance which is presently at 1.4735 and on the downside towards 1.35 which could also be noticed on the channel in which the pair is moving. To see the chart of Cable, click on:

Immediately the 55-MA on 4-hourly at 1.4091 could possibly provide strong Support during the US session which could take the pair up towards the 200-MA on the 4-hourly depending upon the market consensus over the interest rate decision. Presently the expectation is of 50 bps cut.

Aussie AUD-USD @ 0.6374/77...Ranged

R: 0.6389 / 0.6424 / 0.6511

S: 0.6334 / 0.6289 / 0.5961

Aussie has continued to remain ranged during the day bound by the 13-MA (currently at 0.6340) on the 4-hourly at the top and 21-MA (0.6389) on the 4-hourly at the bottom. A rise from hereon could be restricted to the 8-day MA at 0.6496 and a dip could possibly be limited to the Projected Max Low for the day at 0.6289. Earlier during the day, the pair has found Resistance at the Projected Max High for the day when it scaled 0.6421 after the rate cut announcement.

There is likelihood of the ranged move in the pair over the next few sessions before it could possibly rise towards 0.6500 eventually.