|USD-CHF @ 0.9472/75...Bullish|
|R: 0.9500 / 0.9550-80|
Dollar-Swiss has found Support near 0.9420 itself and has risen above its Resistance at 0.9460. Our bullish outlook remains intact and the pair can now target 0.9550-80 in the near term. Also the long term picture is much more bullish for a test of 0.9800-9900 or even higher. Any sharp downmove is not looking likely now as the pair has good Support in 0.9420-00 region and we expect this Support in 0.9420-00 region to hold if a pull back is seen in the coming sessions.
|GBP-USD @ 1.5832/35...21-Week-MA Support coming up at 1.5813|
|R: 1.5880-900 / 1.5950|
S: 1.5813 / 1.5650
Cable has dropped further breaking below its Support at 1.5880. The 21-Week-MA Support is near current levels at 1.5813 and it needs to be seen whether it can hold or not. If it holds, we might see a bounce back move to 1.5900-30 in the coming sessions. On the other hand a break below this 21-Week-MA (1.5813) will be very bad and it can trigger further fall to 1.5650-00 going forward. We continue to stay out of the market.
|AUD-USD @ 0.9900/03...Can fall further|
|R: 0.9960-75 / 1.0000-30|
S: 0.9900 / 0.9800
The Resistance in 0.9960-75 mentioned in our morning comments has held very well and the Aussie has come off from its high of 0.9963. This leaves the pair pressured on the downside and the overall bearish outlook remains intact and the door is open for a test of 0.9800-9700 on the downside. On the upside 0.9960-75 will continue to remain as a significant Resistance region. Also 1.0000-30 will be the important Resistance region which needs to be broken decisively to reduce the downside threat.