|USD-CHF @ 0.9763/66...Buy dips|
R: 0.9850-70 / 0.9950
Dollar-Swiss is ranged between 0.9750-9800. Although the range Suport at 0.9750 is still holding, with lack of upside momentum to bounce back since the Asian session today, we see good chances of a break and fall below 0.9750 towards 0.9700-650 in the coming sessions. Remember, the bigger picuture is still bullish and we expect the overall uptrend to resume from the 0.9700-650 region. Having said this we will be looking to buy on dips.
|GBP-USD @ 1.5693/96...Can rise to 1.5750|
R: 1.5700 / 1.5735-50
The intraday Support at 1.5630 mentioned in our Morning comments has held very well during the day and the Pound has risen sharply from the day's low of 1.5635. Also the pair has risen above its range Resistance at 1.5675. The rise to 1.5750 that we are expecting for some time is more likely to happen in the US session today. Whether 1.5750 holds or breaks will be key to be watched. However, an immediate break above 1.5750 might not be seen, but an eventual break and rise above 1.5750 towards 1.5900-6000 next week cannot be ruled out. Having said this a pull back to 1.5650-600 is possible from 1.5750
Limit Buy Order:
|AUD-USD @ 1.0439/42...Can see a pull back|
R: 1.0450-60 / 1.0500 / 1.0550
Aussie has risen further and is heading towards our target of 1.0450. Overall the pair remains strong. However, we see Resistance in 1.0450-60 region which can hold in its first test. Also since we are nearing the weekend there could be greater chances of profit taking in the coming sessions. Having said this we may expect a pull back from this 1.0450-60 region towards 1.0400 or in a worst case to 1.0350.