|USD-CHF @ 0.9270/73...Bullish while above 0.9200|
R: 0.9300 / 0.9335 / 0.9380-400
Dollar-Swiss is not gaining upside momentum to rise past 0.9300 strongly and the pair has been ranged between 0.9165-9300. The 21-DMA (currently at 0.9203) is giving good Support. While above 0.9200, the outlook is bullish for a rise to 0.9400-500. But the pair needs to see a strong break above 0.9300 for this. On the upside 0.9300, 0.9335, 0.9380-400 are the significant Resistance levels to be watched. Having said this, a sharp and straight rise to 0.9400-500 might not be seen. The rise could be slow and steady. Also while 0.9300 holds, a test of 0.9100-9050 on the downside cannot be ruled out.
|GBP-USD @ 1.5613/15...Ranged with bearish bias|
R: 1.5700 / 1.5745 / 1.5780-5800
Cable has been ranged between 1.5550-5780 over the last few days. We expect this sideways range to continue for some more time. Within this sideways range our view is bearish and we expect a downside break below 1.5550 and a sharp fall to 1.5300-200 or even lower. On the upside only a strong break/close above 1.5800 will ease the downside pressure and reduce the chances of the downthreat of seeing 1.5200-100 on the downside.
|AUD-USD @ 1.0155/58...Might dip further|
R: 1.0200-15 / 1.0240 / 1.0280-300
Aussie failed to sustain the break above 1.0300 last week and fell sharply from its high of 1.0380 to a low of 1.0048. The bounce back move from this low is not gaining strength to rise past strongly above 1.0200. Having said this Aussie is expected to remain pressured on the downside and a test of 1.0050-00 looks likely in the coming sessions/days. A further break below 1.0000 would be bad for the pair and it can take the pair further down to 0.9800. On the upside, 1.0250, 1.0280-0300 are the significant Resistance levels to be watched above 1.0200 and rallies to 1.0250-300 can be considered for taking Short positions.
Market Trade (at the time of writing):