|USD-CHF @ 0.9616/19...Trading flat with overall bullish bias|
R: 0.9650 / 0.9700 / 0.9770
Dollar-Swiss remains flat above its 21-DMA Support (currently at 0.9582) in a narrow range of 0.9600-25. With no significant move seen on either side during the day, our view remains the same. The bigger picture is still bullish as we have the 21-DMA Support at 0.9582 that has held very well yesterday. Also there are series of Supports at 0.9550, 0.9530 and 0.9500 which can restrict any sharp fall. Having said this, dips can be bought. 0.9700-50 would be the immediate upside target and in a bigger picture 0.9950-1.0000 can be seen going forward.
Limit Buy Order:
|GBP-USD @ 1.5614/17...Can dip further|
R: 1.5650 / 1.5700 / 1.5750
Cable is coming down as we had expected. However, much strength is not seen in this pull back move. The chanes of seeing 1.5600-5570 looks more likely. Also the chances of testing the 21-DMA Support once again cannot be ruled out. A bounce back from 1.5600-5575 region will be good for the pair as it would increase the chances of seeing a break and rise above 1.5650 towards 1.5700-50. We will have to wait and see what happens. As of now we are staying out of the market.
|AUD-USD @ 1.0072/75...Resistance in 1.0075-90 region|
R: 1.0075-90 / 1.0120
Aussie is getting some Support at 1.0050 and is trying to bounce back. However, we see good Resistance in 1.0075-90 region which could restrict the bounce back move. While below 1.0090, we see good chances of testing parity in the coming sessions. Also a pull back from current levels would keep the chances of the downmove extending further breaking below 1.0000 towards 0.9950-00.