|USD-CHF @ 0.9619/22...Rangeed narrowly|
R: 0.9645 / 0.9700
Dollar-Swiss is trading in a very narrow range of 0.9587-0.9625. With no significant move seen on either side, our view remains the same. The important Support at 0.9585 was tested during the day and it is holding well. However, the pair is not gaining upside momentum to see a strong rise. Also there is good Resistance near 0.9645 which needs to be broken for the pair to move up. Having said this while below 0.9645, there will good chance of seeing a break and fall below 0.9585 to 0.9500. As mentioned in our Morning comments, the bigger picture is bullish and if 0.9500 holds, we can see a fresh rally to 0.9900-50 from 0.9500 going forward.
|GBP-USD @ 1.5484/87...Can rise to 1.5600-50|
R: 1.5512 / 1.5600/ 1.5650
Cable has risen further during the day and is continuing to trade higher as we had expected. The 55-MA on the 4-hr chart is currently giving Resistance for further rise. However, the overall picture is looking good with good Support near 1.5400. A further rise to 1.5600-50 is on the cards while above 1.5400. Any sharp pull back is not looking likely now and we can expect Cable to continue to trade above 1.5400. Only a strong break below 1.5400 will bring back the downside pressure on the pair. But that does not seems likely now.
|AUD-USD @ 0.9863/65...Can rise to 0.9900-50|
R: 0.9920-50 / 1.000
Aussie remains strong and is breaking above its 21-DMA Resistance (currently at 0.9846). The immediate outlook is bullish while above 0.9800. A test of 0.9920-50 on the upside looks likely now. Any pull back move is expected to find Support at 0.9800 now and only a break below 0.9800 will bring back the downside pressure on the pair. However, an immediate break below 0.9800 is not looking likely now.