|USD-CHF @ 0.9345/48...Watch important Support at 0.9300|
R: 0.9358 / 0.9400 / 0.940
Dollar-Swiss has dipped below the 21-DMA (0.9358). A test of 0.9300 looks likely in the US session now. Whether 0.9300 will hold or break is now have to be seen. Note 0.9296 is the 200-MA on the 4-hr chart. A strong break below this 200-MA on the 4-hr chart can drag the pair further down to 0.9200 which is an important Support level seen on the monthly chart.
|GBP-USD @ 1.5609/12...Might rise to 1.5700-50|
R: 1.5700-20 / 1.5750-70
Cable has risen further and is now trading just above 1.5600. A further rise to 1.5700-50 is possible now. As mentioned in our Morning comments today, the break below 1.5400 seen last week seems to be a false break and the pair is back into its 1.5400-5800 sideways range. Since the pair is now trading at the middle of its 1.5400-5800 range, we are not taking any trade calls now. Rather we will wait for it to move towards its upper end of its range and then we will take Short positions.
Limit Sell Order:
|AUD-USD @ 1.0349/52...Buy dips|
R: 1.0370 / 1.0400-15 / 1.0500
Aussie has risen well and is heading towards 1.0400 as expected. Note 1.0412 is the 200-DMA Resistance level and a strong break above it can take the pair further up towards 1.0500. But there is Resistance near current level at 1.0370 and while it holds, a pull back to 1.0320-00 is possible in the coming sessions. Dips to this 1.0320-00 Support region can be bought once again.
Limit Buy Order: