|USD-CHF @ 0.9487/90...BUllish|
S: 0.9400 / 0.9350DOllar-Swiss saw an intraday break above its important Resistance at 0.9512 but has come off from its high of 0.9520. Our view remains the same. The overall bullish view remains intact. As mentioned in our weekly view, 0.9512 will now be an important Resistance level to be watched and a strong break above this Resistance will open doors for a strong rally to 0.9900-1.0000 going forward. With lack of downside momentum, any sharp downmove is not looking likely now and we might expect the pair to continue to trade above 0.9400.
|GBP-USD @ 1.5722/25...Can fall further|
|R: 1.5750-75 / 1.5800|
S: 1.5700 /1.5600Cable has dipped further and remains pressured on the downside. The overall bearish outlook remains intact and as mentioned in our morning comments we see good chances of seeing 1.5600 on the downside now. Also with lack of upside momentum, the chances of this downmove extending further to 1.5530 and 1.5430 cannot be ruled out. Any sharp bounce back move is not looking likely now and we expect the pair to continue to trade lower below 1.5750 and 1.5800.
|AUD-USD @ 0.9758/61...Support in 0.9750-35 region still holding|
|R: 0.9800 / 0.9850 / 0.9900|
S: 0.9750-35 / 0.9700 / 0.9660Aussie is oscillating around its Support in 0.9750-35 region which is holding well. However, the pair is not gaining upside momentum and is ranged between 0.9730-80. The immediate outlook is mixed. However, the overall picture is still weak and the broader picture is still bearish. Having said this, there is good chance of an eventual break and further fall below the 0.9750-35 Support region towards 0.9660-50 in the coming sessions. Chances are there that this Support at 0.9660 could hold on its first test. We will have to wait and see.