|USD-CHF @ 0.9582/85...Bullish|
|R: 0.9600 / 0.9650 / 0.9750-70|
S: 0.9530-00 / 0.9450
Dollar-Swiss has found good Support in 0.9450-25 region last week and has risen well above 0.9500. The overall bullish view remains intact and a further rise is on the cards for this week. We see good Support now in 0.9530-00 region which is expected to hold well incase if a pull back is seen on a failure to rise past 0.9600. A strong break above 0.9600 can trigger a fresh rise and 0.9700-50 can be seen on the upside. As we have been mentioning for some time, the bigger picture is very bullish and 0.9950-1.0000 can be seen in the coming days/weeks.
Limit Buy Order:
|GBP-USD @ 1.5584/87...Immediate Support at 1.5550|
|R: 1.5600 / 1.5670-700 / 1.5745-75|
S: 1.5550 / 1.5450 / 1.5400-370
Cable failed to break above its 200-MA Resistance on the weekly (currently at 1.5771) and fell sharply from its high of 1.5777 last week. However, the pair has the significant 21-DMA Support now at 1.5545 which needs to be watched. The pair will now need a strong break above 1.5600 to ease the downside pressure and reduce the chances of seeing further dip. 1.5750-5770-5800 can be targeted once again on a break above 1.5600. However, if the pair fails to see a strong rise past 1.5600, then we should be preapred to see a fall to 1.5400-370 this week. 1.5370 is a very good Support level and longs can be taken if a bounce happens from this level.
Trade ideas for the week:
|AUD-USD @ 1.0032/25...Can dip to 0.9950-00|
|R: 1.0070-100 / 1.0200 / 1.0225-45|
S: 1.0000 / 0.9950 / 0.9900
After extending its rise very well to 1.0224 last week, the Aussie saw a sharp pull back from its high and is now trading just above parity. The pair will have good Resistance now in 1.0070-100 region which can restrict any bounce back move. While below 1.0100, the pair is expected to remain pressured on the downside and a break and dip below parity towards 0.9950-00 looks likely in the coming sessions/days. 0.9900 is a good Support level and a bounce back to 1.0000 is possible from there during the week. Only a strong break above 1.0100 will ease the downside pressure and will take it once again to 1.0200-25.