USD-CHF @ 0.9818/21...Can test 0.9850-70 Resistance region once again
R: 0.9850-70 / 0.9950
Dollar-Swiss has risen back above 0.9800. The Resistance in 0.9850-70 can be tested once again. A strong break above 0.9870 would be bullish and can take the pair further up towards 0.9950. On the other hand while 0.9850-70 Resistance region continues to hold, the is expected to remain pressured on the downside for a test of 0.9700-9650. The bigger picture is bullish and dips to 0.9700-650 can be bought. But whether we will get chance of a dipt to 0.9700-650 is the question. We will have to wait and see what happens.
Limit Buy Order:
|GBP-USD @ 1.5608/11...Can fall to 1.5450-00 if 1.5550 is broken|
R: 1.5650/70 / 1.5750
Cable has come off during the day as expected and is now trading below its important intraday Support at 1.5620. As mentioned in our morning comments, we see good chances of a fall once again to 1.5550. There is a Double Top on the 4-hr chart and a strong break below 1.5550 can take the pair further down towards 1.5450-400. As mentioned in our weekly view, 1.5400-385 is a strong Support region which we expect to hold. As such we will be looking to enter Long positions near 1.5400.
Limit Buy Order:
|AUD-USD @ 1.0302/05...Bullish|
R: 1.0325-50 / 1.0400
Aussie is ranged between 1.0288 and 1.0325 all through the day. With no significant move seen on either side during the day, our view remains the same. The pair is continuing to trade above the 200-DMA (1.0273) and is keeping the overall bullish intact. We now see good chances of further rise to 1.0350-400 in the coming sessions. On the downside the 200-DMA (1.0273) could now be a good Support which can restrict any pull back move. Overall the pair is bullish and we may expect a rise to 1.0350-400.