USD-CHF @ 0.9365/68...Can fall to 0.9200-150
R: 0.9380-400 / 0.9430 / 0.9550 S: 0.9310 / 0.9200 / 0.9150
Dollar-Swiss fell sharply last week from its high of 0.9576 towards 0.9300 and is now trying to bounce back now. The 100-Week-MA (Currently at 0.9554) Resistance is continuing to restrict the upmove well and the pair has seen a lower weekly close for the second consecutive time. This leaves it pressured on the downside. 0.9380-400 will not be an important Resistance region to be watched and a failure to rise past this Resistance region would increase the chances of seeing a break below 0.9300 which can drag the pair further down towards 0.9200-150 during the week. Note the 55-DMA (currently at 0.9310) is an important Support level and a break below it would trigger a fall.
Trade ideas for the week: 1) Watch for a pull back from 0.9400 and sell at the market 2) Sell on a break below 0.9300 3) Buy on dips to 0.9150
GBP-USD @ 1.5539/42...Sell rallies
R: 1.5600-30 / 1.5675-5700 / 1.5730 s: 1.5500 / 1.5400 / 1.5300
Cable saw a strong rally last week and is now trading well above 1.5500. While above 1.5500, this upmove can extend further this week as well. 1.5600-30, 1.5675-5730 are the significant levels on the upside that can be targeted this week. We see strong Resistance in 1.5650-5700 region and rallies to this Resistance region can be sold. A sharp pull back to 1.5500-5400 or even lower is possible from this 1.5650-700 Resistance region. In the bigger picture, the downside threat is still there for a test of 1.5200-5100. We see strong Support at 1.5100 and dips to 1.5100 can be bought for a bounce back move to 1.5300-400
Limit Sell Order: Sell GBP 10K at 1.5680, SL 1.5770, TP 1.5520
Trade ideas for the week: 1) Buy near 1.5100
AUD-USD @ 1.0492/95...Bullish
R: 1.0550 / 1.0600-15 / 1.0715 S: 1.0425-00 / 1.0360-50 / 1.0300
Aussie has seen a strong break above 1.0400 last week and is continuing to trade higher now. The overall picture is looking bullish and 1.0600-20 can be seen immediately. Also with strong Resistance-turned-Support in 1.0425-00 region, the upside is open for a rally to 1.0700-750-800. Significant Support is also seen near 1.0350. Having said this dips to 1.0400-350 if seen can be considered for taking Long positions.
Limit Buy Order: Buy AUD 10K at 1.0420, SL 1.0330, TP 1.0610 Buy AUD 10K at 1.0360, SL 1.0280, TP 1.0735