|USD-CHF @ 0.9440/43...Can test the 0.9430-10 Support region.|
S: 0.9430-10Dollar-Swiss failed to rise past 0.9500 and has come off during the day. The pull back move can extend further to 0.9430-10 Support region which is expected to hold. The overall picture is bullish and any strong downmove is not looking likely. Having said this we would expect the pair to remain and close above 0.9400 for the week today.
|GBP-USD @ 1.5810/13..Watch 200-DMA Resistance at 1.5821|
|R: 1.5821 / 1.5880|
S: 1.5750 / 1.5700Contrary to our expectation, the Pound has risen back above 1.5800 and it will have to be seen whether it can sustain above 1.5800 or not. The 200-DMA is currently at 1.5821 and a strong break/close above this level would ease the downside pressure a bit. On the other hand failure to see a strong break above this 200-DMA would keep the pair pressured on the dowside for a test of 1.5700-600 levels.
|AUD-USD @ 0.9878/81...Can rise to 0.9900-20|
|R: 0.9900-20 / 0.9950|
S: 0.9800 / 0.9700Aussie failed to see a strong break below 0.9800 and has risen back from the low of 0.9795. a further rise to the Resistance in 0.9900-20 region looks likely in the coming sessions. A break above 0.9920 will ease the downside pressure a bit and can take it further up towards 0.9950. However, the bigger picture is still weak and the chances of seeing 0.9700-9650 levels on the downside cannot be ruled out. We will have to wait and see how the market closes for the week today.
Join the Discussion