|USD-CHF @ 0.9671/74...Bullish. Buy dips|
R: 0.9700-25 / 0.9812 / 0.9910
Dollar-Swiss remains bullish and had seen a strong rise to 0.9770 last week. Immediate Support is seen in 0.9600-570 region. Good chances that this Support itself can hold well this week. The upside is open for a test of 0.9950-75 for this week. Also the bigger picture is much more bullish and 1.0100-20 can be targeted on the upside going forward. On the downside 0.9500 is the next important SUpport level to be watched below 0.9570. In a bigger picture, 0.9450-00 is a strong Support region.
Trade ideas for the week:
|GBP-USD @ 1.5367/70...Important Supports coming up|
R: 1.5435 / 1.5640
Its a fifth consecutive week of a strong fall for the Cable. It has significant Supports coming up now and it will have to be see whether these SUpports can halt this five weeks of continuous sharp fall. The Supports are immediate Support at 1.5330 and then 1.5250 and 1.5200 on the monthly and weekly charts respectively. While these Supports hold, there could be chances of seeing a bounce back move this week. 1.5435 and 1.5640 are the important Resistances seen on the upside. 1.5640 will be an important level and only a break above this Resistance will ease the downside pressure and reduvce the chances of seeing further fall. On the downside if 1.5200 is broken, then 1.5150 and 1.5000 can be targeted.
|AUD-USD @ 0.9671/74...Can test 0.9500 on the downside.|
R: 0.9700 / 0.9750 / 0.9800
Its a fifth consecutive sharp fall for the Aussie last week. Immediate Resistance is seen at 0.9700 and a failure to bounce back above this Resistance can pull it further down to 0.9500 this week. 0.9500 is a significant Support level seen on the downside which can hold on its first test. However, if 0.9500 is broken then 0.9400-350 can be seen on the downisde. On the upside, as mentioned above 0.9700 is an immedaite Resistance to be watched which if broken can take the pair up to 0.9800-9900 this week. 0.9835 and 0.9920 are the important Resistance levels to be watched on the upside.