USD-CHF @ 0.8980/83...Can test 0.8950 on the downside
R: 0.9000 / 0.9030-50 / 0.9080 S: 0.8955-50 / 0.8850
Dollar-Swiss has dipped below 0.9000 as expected. As mentioned in our Morning comments 0.8855-50 can be tested on the downside which the next important Support level to be watched. A break below 0.8950 would add further downside pressure and can drag it down to 0.8850. On the other hand, while 0.8950 holds, a bounce back to 0.9000-30 is possible. We will have to wait and see what happens to this Support at 0.8950.
Holding: USD 10K Short at 0.9058, TSL 0.9005 (down from 0.9025), TP 0.8970 As soon as the market trades 0.8975 bring SL down to 0.8990
GBP-USD @ 1.5803/06...Can rise to 1.5850-70
R: 1.5850-70 / 1.5900 S: 1.5750 / 1.5700
Cable has risen strongly breaking above its 1.5750-70 Resistance region. While above 1.5800, a further rise to 1.5850-70 is possible now in the coming sessions. Overall the pair has been ranged between 1.5650 on the downside and 1.5900 on the upside and we will have to see a breakout of this range to get idea on further direction of move.
AUD-USD @ 1.0728/31...Ranged. Immediate outlook mixed
R: 1.0750 / 1.0800 S: 1.0700 / 1.0650
Although Aussie is continuing to trade above 1.0700, it is not gaining upside momentum to rise past 1.0750. The immediate outlook is mixed. A strong rise past 1.0750 can see 1.0800 on the upside. We will have to wait and see how does the market close for the week today. Staying out.