SwissUSD-CHF @ 0.9475/78...Bullish
R: 0.9520-30 / 0.9600
S: 0.9450 / 0.9400

Dollar-Swiss is looking strong and has very good Support in 0.9400-380 region which can restrict any sharp fall if seen. With lack of downside momentum, we expect the pair to continue to trade above 0.9400 and the overall picture remains bullish for a rise to 0.9550 and 0.9600. Having said this, dips to 0.9400 if seen can be bought. An immediate break below 0.9400 is not looking likely. However, if seen can take it down to 0.9350-00.

Limit Buy Order:
Buy USD 10K at 0.9415, SL 0.9355, TP 0.9530
CableGBP-USD @ 1.5910/13...Outlook mixed
R: 1.5960 / 1.6050 / 1.6120
S: 1.5900-5880 / 1.5850 / 1.5800

Cable was mixed and ranged between 1.5950 and 1.6050 most part of last week and fell below 1.5950 towards the end after the bad PMI data release. Although the overall picture is looking weak, the immediate outlook is not clear as we see good Supports coming in near current levels in 1.5900-5880 region and then at 1.5850 and 1.5800 region. However, a strong break/close above 1.6000 will be needed to ease the downside pressure and bring in upside strength which can take it up once again to 1.6100-6200. Failure to rise past above 1.6000 will be bad and will keep alive the threat of seeing a sharp fall to 1.5700-5500 going forward. We would prefer to stay out for some time until we get clear idea on the direction of move.
 
AussieAUD-USD @ 1.0418/21...Bullish in the near term
R: 1.0480-500 / 1.0540-50
S: 1.0370 / 1.0350 / 1.0320

Aussie is looking good for the near term. It has strong Support near 1.0370 and then cluster of Resistance is seen in 1.0350-20 region which can restrict downside in the near term. Having said this we can expect rise to 1.0480-0500 immediately and then this upmove can extend further to 1.0550 there after. However, 1.0550 is a strong Resistance seen on the upside which we expect to hold. As such a pull back to 1.0350-00 is possible from this 1.0550 Resistance level. For this week, the outlook looks bullish and we will be looking to enter Long positions on dips.

Limit Buy Order:
Buy AUD 10K at 1.0370, SL 1.0310, TP 1.0480


Happy Trading!

 

This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service