|USD-CHF @ 0.9356/59...BUllish. Buy dips|
R: 0.9400 / 0.9500 / 0.9550
Dollar-Swiss is finding good Resistance at 0.9400 which is restricting it well from further rise and is keeping the pair ranged between 0.9250-00. Significant Support is seen near current levels at 0.9340 and then at 0.9300. Also strong Support is seen at 0.9200. Having said this the bigger picture is bullish and a strong break above 0.9400 can take it up towards 0.9500-50. Dips to 0.9200 can be bought. But whether we will get a chance for a test of 0.9200 is the question. Good chances that the pair can get good Support near 0.9300 and continue to trade above 0.9300 itself. If so we will have to watch the market and enter long at the market on a break above 0.9400.
|GBP-USD @ 1.5618/21...Ranged|
R: 1.5650 / 1.5700 / 1.5770-5800
Cable is retaining broad 1.5400-5800 sideways range and it is coming off from near its upper end of this range. It is now trading at the middle of this range. Any bounce back from current levels can find Resistance at 1.5650 and 1.5700. A strong break below 1.5600 can take the pair down towards 1.5500-5400. Only a breakout of this 1.5400-5800 sideways range will determine the further direction of move and we will have to wait for a breakout of this range to get clear idea on the direction of move going forward.
|AUD-USD @ 1.0149/52...Strong Resistance at 1.0200.|
R: 1.0200 / 1.0250 / 1.0300
Aussie has risen well last week. But important to note is that, the sharp rise last week failed to see a break above the important Resistance at 1.0200. While this Resistance at 1.0200 continues to hold, the chances of revisiting 1.0000-0.9900 cannot be ruled out. But we see 1.0200 to be a strong Resistance and we expect it to hold for some more time. Having said this we expect a dip to 0.9900 once again this week. On the other hand, a break above 1.0200 can take it up towards 1.0300-0400.