SwissUSD-CHF @ 1.0420/23...Resistance in 1.0480-95 region
R: 1.0480-95 / 1.0535-50 / 1.5070
S: 1.0394 / 1.0350 / 1.0300

A higher close above 1.0400 last week is the third consecutive higher weekly close for Swiss. 1.0482 (8-Month MA) and 1.0495 (Trendline Resistance) are the significant Resistances seen on the monthly chart. Note that these Resistances were tested and held last week. Though the pair is continuing to trade above 1.0400, much strength is not seen in its upmove. Therefore, we may expect this Resistance in 1.0480-95 region to hold during the day and the overall downtrend to continue. However, a break above 1.050 might see 1.0535-50 on the upside thereby bringing in more chances of a trend reversal. On the downside 1.0350-00 region is a strong Support region seen for this week. A break below 1.0300 might pull it down towards 1.0250-30.

CableGBP-USD @ 1.6148/53...Strong Support in the 1.6057-1.6008 region
R: 1.6211-37 / 1.6300-23 / 1.6352
S: 1.6057-49 / 1.6008 / 1.5965

The pair looks overall bearish. However, given the fact that the 100-DMA is flat, the pair may on the Support of the trendline formed by joining the lows of 27 Nov, 9 Dec and 17 Dec rise towards 1.64 once again over the next few weeks. This SUpport is at 1.6057 for today. On the downside, the 200-DMA also provides Support at 1.6008. For today, the Projected Max High and Low for the day is at 1.5965 and 1.6301 respectively. One may look at buying near the 1.6057-6008 Support region.

The weekly charts suggest a possibility of Double top formation which would be confirmed on a fall below the 55-week MA which is at 1.5620 this week. That is a long way from here. There, however are not too many Support between the 200-DMA and 55-week MA.

AussieAUD-USD @ 0.8856/60...Might see a break below the Support at 0.8820
R: 0.8900-20 / 0.8990 / 0.9070
S: 0.8844-20 / 0.8770-50 / 0.8700

Failing to sustain above 0.8900, Aussie has fallen from the high of 0.8914 and is now trading lower. The 21-Week MA at 0.8844 and the Trendline Support at 0.8820 are the significant Support levels seen on the downside. Failure to sustain above 0.8900 has now increased the chances of a break below the Supports (0.8844 and 0.8820) mentioned above. A break below 0.8820 might pull it down towards 0.8770-50 during the day. It might also increase the chances of a further dip towards 0.8700, which is the next significant Support level seen on the monthly chart.

Forex Trader Library
Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.