|USD-CHF @ 0.9437/40...Can trade in the 0.9520-9380 range|
|R: 0.9500-20 / 0.9610|
The pair through the week has been quite bearish after giving a close above 0.9460 last week it dipped below through the week and found support near 0.9400 as it bounced back again. The break above 0.9460 could not be sustained and the pair gave away its gains as the Euro found support at 1.2660 and bounced back, in the coming week there are good chances that the pair will remains ranged between 0.9520-0.9380 and Euro remains ranged between 1.2800-2660. The markets will be looking forward for the Existing home sales and the Housing starts numbers due early next week and if the numbers are better than expected we could then see the Euro coming lower near 1.2660 and Swiss moving towards the upper end of 0.9520 range in the early part of the week. So the bias remains for Swiss trading between 0.9520-9380 for the coming sessions. Having said that the chances of a strong break above 0.9520 are quite slim and if at all witnessed then 0.9610 will be seen, but the preferred scene will be for a ranged move in the coming week.
|GBP-USD @ 1.5918/21...Can dip after a rise to 1.6000|
|R: 1.5900-30 / 1.6000 /|
S: 1.5815 / 1.5780 /
The pair after breaking below its 1.5900 support has been bearish for the week. The bigger view remains bearish for a further fall towards 1.5800-5785 but first we can see it moving towards 1.5930 which is its 100 EMA resistance on the daily charts and 1.6000 which is its trend line resistance on the weekly charts where it can then take resistance to move lower. So the theme for the week is likely to remains weak after an initial rise to 1.5930 and 1.6000 then moving lower towards 1.5800-5785. Cable can be sold on a rise to 1.6000 keeping a stop above 1.6050. On the other hand the weekly candle is indecisive and if it manages to give a strong break above 1.5930 we can see the pair moving higher towards 1.5985 in the coming week, we would be entering the short only after watching the short term charts.
|AUD-USD @ 1.0369/72...Bigger picture looks bearish, Sell on a rise|
|R: 1.0350-75 / 1.0430|
S: 1.0330-00 / 1.0275 / 1.0225
The pair after moving up above 1.0430 could not hold on to its gains as it dipped below the same and closing below 1.0380 and the weekly candle also seems to be bearish engulfing pattern and has bearish implications on the pair and can target 1.0225 in the coming week. So the bias remains bearish for a fall after a rise to 1.0350-70 which is expected to act as a resistance for the pair going forward. BUt the chances of this upmove extending further to 1.0450 before a fall cannot be ruled out. Rallied to 1.0450 can be sold for a forthcoming decline. Aussie is still finding support near 1.0330-00 levels but we expect it to be broken on going down. Also the 1.0625-150 range look to be holding on a larger term and chances of seeing a down move to the lower end looks likely.
Limit Sell Order
Sell AUD 10K at 1.0510, SL 1.0575, TP 1.0580