|USD-CHF @ 0.9297...Bullish|
R: 0.9300 / 0.9380-400 / 0.9450
Dollar-Swiss was ranged between 0.9194 on the downside and 0.9307 on the upside last week. However, it has risen above 0.9300 and is keeping up the overall bullish sentiment intact. We expect a further rise to 0.9380-400 this week. Chances of this upmove extending further towards 0.9450 cannot be ruled out. Good Support at 0.9200, 0.9165-45 region and then at 0.9115. If it fails to sustain above 0.9300, then a pull back to 0.9250-00 is possible. But we do not expect an immediate break below 0.9300 and we see good chances of the pair to continue to trade above 0.9300.
|GBP-USD @ 1.6061/63...Important Supports ahead.|
R: 1.6140 / 1.6200-20 / 1.6300
Cable failed to see a strong break above 1.6200 and extended its fall last week as well. Immediate and important Supports coming up now which could halt the two weeks of continuous fall. The Supports are at 1.6050, 1.5999 (21-Month-MA), 1.5972 (Trendline Support on the weekly as well as monthly chart). Having said this dips to 1.6000-5970 can be conisdered for taking Long positions. May be even multiple lots can be taken. On the upside 1.6140 , 1.6200-20 and 1.6304 are the important Resistances to be watched. A strong break above 1.6300 will open doors for further rise to 1.6500-6600.
Limit Buy Order:
|AUD-USD @ 1.0014/17...Threat of falling further if 0.9990 is broken|
R: 1.0100 / 1.0200 / 1.0250
Aussie fell further last week breaking below its important SUpport on the monthly at 1.0087 and is now trading just above parity.Immediate and important SUpport is now seen near 0.9990 which needs to be watched. A strong break below this Support can trigger further fall to 0.9700-9650 going forward. On the other hand if 0.9990 holds, then Aussie can bounce back to 0.9100 initially and then a further break above 0.9100 will see 0.9200-50 on the upside. As of now we do not have any specific trade ideas on this pair for the week. We will see how it moves during the week and take trades accordingly.
No trade ideas for the week.