SwissUSD-CHF @ 0.9374/77...Can dip before further rise

R: 0.9400 / 0.9508 / 0.9542
S: 0.9300 / 0.9268 / 0.9200

The Resistance at 0.9542 on the Monthly chart held very well and the Dollar-Swiss fell sharply from its high of 0.9547 and is trading below 0.9400. While below 0.9400, a test of 0.9300-9270 looks likely on the downside. Note 0.9268 is the significant 21-DMA Support level. Also the chances of this downmove extending further to 0.9200 cannot be ruled out. We will be looking to buy on dips this week. On the upside 0.9508 and 0.9542 are the significant Resistance levels to be watched and it can be tested on a strong break above 0.9400.

Trade ideas for the week:
1) Watch for a bounce from 1.0300-0270 Support region to enter Long at the market
2) Buy at 1.0230, SL 1.0160, TP Open

CableGBP-USD @ 1.5494/97...Ranged

R: 1.5510 / 1.5650 / 1.5750-80
S: 1.5400 / 1.5300

The sharp fall in Cable last week 1.5657 has found good Support near 1.5400 and it is trying to bounce back just now. A broad range of 1.5400-5780 is seen on the Weekly chart and while above 1.5400, this broad sideways range is expected to continue. Immediate Resistance is seen near current levels at 1.5510 and a strong rise past this Resistance will take it further up to 1.5650-5750. On the other hand, a break below 1.5400 will be very bad for the pair and it would trigger a fall to 1.5150-00 on the downside.

Trade ideas for the week:
1) Sell on a break below 1.5400
2) Sell at 1.5735, SL 1.5825, TP 1.5450

AussieAUD-USD @ 0.9920/23...21-DMA restricting further rise.

R: 1.0000-25 / 1.0130-50 / 1.0200
S: 0.9900 / 0.9800

Aussie fell sharply last week from 1.0207 to a low of 0.9861. Although it is trying to bounce back over the last couple of days, the 21-DMA (currently at 1.0017) is restricting the pair from further rise and is keeping it pressured on the downside. A test of 0.9800 looks likely now while below the 1.0000-25 Resistance region. Also looking at the monthly chart, we see that the chances of the downmove extending further below 0.9800 towards 0.9650-00 cannot be ruled out. On the upside a strong break above the 21-DMA Resistance can take the pair up to 1.0150-0200.

Happy Trading!