|USD-CHF @ 0.9100/03...Immediate outlook not clear|
R: 0.9180-9200 / 0.9250
Dollar-Swiss failed to sustain the break below 0.9100 and has bounced back from its low of 0.9078. The immediate outlook is not clear. But a strong break below the 0.9100-9080 Support region can take it further down to 0.9000. the market might be expecting some trigger to seek a direction for further movement. May be the FOMC today would be a trigger for that. Having said this, it is better to stay out of the market for now and see how the pair moves after the FOMC meeting today.
|GBP-USD @ 1.6114/17...Mixed|
R: 1.6166 / 1.6200 / 1.6300
The GDP data release today showing that the UK has entered in to the second recession triggered a sharp fall today to a low of 1.6080 during the day. However, the pair has bounced back again above 1.6100. Our view remains the same. Important Resistance at 1.6166. A strong break above this Resistance is needed for the pair to extend its upmove further. 1.6300-6400 can be targeted on the upside on a break above 1.6166. On the other hand while 1.6166 continues to hold, there could be chances of seeing a pull back to 1.6050 or even 1.6000
We lost 55 pips from the Long position entered at 1.6140.
|AUD-USD @ 1.0337/40...Watch important Resistance at 1.0354|
R: 1.0354 / 1.0400 / 1.0450
Aussie is continuing to trade above 1.0300, but is still not gaining upside momentum to see a strong riose past its Resistance at 1.0354. As we had mentioned in our Morning comments, a strong break above 1.0354 will take the pair further up towards 1.0400-50. On the downside the pair is getting Support near 1.0300 and break below it will trigger further dip to 1.0250-30.