|USD-CHF @ 0.9230/33...Resistance at 0.9250 holding well|
R: 0.9230-50 / 0.9300 / 0.9350
The Resistance in 0.9230-50 region mentioned in our Morning comments has held well and the Dollar-Swiss has come off from its high of 0.9251. It needs to be seen whether the pair now breaks below 0.9200. However, while below 0.9250, the chances of testing 0.9100 on the downside is still there. We will have to wait and see. But remember the bigger picture is still bullish and dips can be bought. We will have to see what are the chances of the downmove extendinf to 0.9000 in order to take Long positions. We will be watching the market to get a clear picture on this.
|GBP-USD @ 1.5588/91...Might rise to 1.5700-50|
R: 1.5650 / 1.5700 / 1.5750
Cable dipped to a low of 1.5526 during the day and then witnessed a sharp rise to 1.5639. It has come off from its high and is now trading just below 1.5600. Our view remains the same on the pair. With significant Supports at 1.5550 and then at 1.5500, the outlook remains bullish for a rise to 1.5700-50. Only a strong break below 1.5500 will increase the downside pressure. On the upside 1.5700-50 is a very good Resistance region and rallies to this Resistance region can be sold.
Limit Sell Order:
|AUD-USD @ 1.0042/45...55-DMA Resistance continuing to hold.|
R: 1.0085 / 1.0250 / 1.0300
The sharp bounce from the day's low of 0.9942 failed to break above the 55-DMA (1.0085) Resistance, and the pair is coming off from its high of 1.0074. It would be bad for the pair if the 55-DMA Resistance continues to hold and it would keep the it pressured on the downside for a test of 0.9800-9700 once again. However, with significant intermediate Support at 0.9900, the current outlook remains bullish and while above 0.9900 we see good chances of a break and rise above the 55-DMA towards 1.0200-0300 in the coming sessions.