|USD-CHF @ 0.9670/73... Resistance at 0.9700|
R: 0.9700 / 0.9735 / 0.9800 / 0.9865
The pair as mentioned in the morning is weak and went down to make a low of 0.9665 which is trend line support on the daily charts. The break of 0.9665-60 can open doors for 0.9610, but the pair is bouncing back from 0.9665. However, it has descent resistance at 0.9700 which is holding well and till the time it hold we can expect the upside to be capped, 0.9735 is also a good resistance on the daily charts. It seems to have made a short term top in the daily charts at 0.9972.
|GBP-USD @ 1.5657/60... Resistance ahead|
R: 1.5660 / 1.5720
The pair found good support at 1.5564 which was much earlier than expected (1.5532 where support was expected to come), but the weakness in USD took the pair up and now is targeting 1.5720 once it crosses 1.5660. 1.5720 is the upper end of the broad range of 1.5400-1.5720. We can expect the pair to take resistance here and move lower, we would not be placing a limit sell order because there are chances of it breaking the range on the upside; we would go short if the resistance of 1.5720 is holding well. On the downside the pair has immediate support at 1.5532 and 1.5400 respectively which we would expect it to hold.
|AUD-USD @ 1.0587/90 Resistance ahead|
R: 1.0620-40 /
The pair continues to be bullish as expected and is targeting 1.0620-40 and then 1..0690 on the upside which seems to be a significant resistance on the daily charts. There is fair possibility of this holding and the pair coming down towards 1.0430 levels in the course of this week. On the immediate down side the pair has good support at 1.0470-50, but the bias is that the pair will move up to test its resistance on the daily charts before retreating, the charts show good momentum for the pair. We will taking short position on a rise to 1.0690 wait for the pair to make top and then go short when an opportunity arises.
Limit Sell Order: