|USD-CHF @ 0.9415/18...Not gaining upside momentum|
R: 0.9480 / 0.9510
The Support at 0.9369 mentioned in our Morning comments is holding well and the Dollar-Swiss has risen back above 0.9400. However, it is still not gaining upside momentum to extend its upmove strongly above 0.400.This keeps alive the chances of revisiting the immediate Support at 0.9369 and a break below 0.9369 can take it further down towards 0.9325-00. However, the overall picture is still bullish but there are still chances that the current pull back move can extend further before we see any fresh upmove. As mentioned in our weekly view yesterday, we are not sure about the extent of the current pull back move. Having said this, we will stay out of the market and watch to see the confirmation for any turn around.
|GBP-USD @ 1.5778/81...Ranged with bearish bias|
R: 1.5800 / 1.5850
Cable continuing to look mixed and is retaining its sideways range of 1.5775-1.5850. Data release showing slower inflation and the IMF saying that more stimulus is needed to boost economy triggered a sharp fall from the upper end of this 1.5775-5850 range. This looks to be turning the picture to remain weak. Our view remains the same. The outlook is not clear. The 200-Week-MA is currently at 1.5855 and a failure to break above this Resistance level can take the pair further down to 1.5700-5600 levels in the coming days. We will have to wait and see what happens.
|AUD-USD @ 0.9884/87...Support at 0.9850|
R: 0.9945 / 0.9980 / 1.0010
The Resistance at 0.9945 mentioned in our Morning comments has held well and the Aussie has seen a pull back from its high of 0.9935. Some Support is seen at 0.9850 which if holds, will keep alive the chances of seeing 0.9950-9980-1.0010 levels on the upside. On the other hand, a strong break below 0.9850 will increase the downside pressure take it down to 0.9800. It will also increase the chances of seeing a break and further fall below 0.9800 towards 0.9700-9650.