|USD-CHF @ 0.9458/61...Important Supports coming up|
|R: 0.9530-50 / 0.9600-20 / 0.9700|
S: 0.9450 / 0.9400-9390 / 0.9315-00Dollar-Swiss has found strong Resistance in 0.9600-20 region over the last two weeks and has come off sharply to close lower below 0.9500 last week. The overall picture is still weak but there are important Supports coming up now which can restrict any further sharp fall. 0.9400 (200-DMA), 0.9393 (Trendline Support on the monthly) and then 0.9315-00 are the important Supports on the downside which can halt the fall. At the same time there are good Resistances on the upside in 0.9500-600 region and then strong Resistance is seen near 0.9700. Only a strong rise past 0.9700 will ease the downside threat. A rise to 0.9550-600 if seen in the initial part of the week can be sold. Overall, athough there is still room on the downside, the picture is not very clear and we will have to wait and watch.
|GBP-USD @ 1.5984/87...Bullish|
|R: 1.6050 / 1.6100 / 1.6165|
S: 1.5900 / 1.5845 / 1.5800Cable is bullish. It is continuing to trade strong. Further rise to 1.6050-6100 looks likely this week. Good chances of this upmove extending further to 1.6150-200. On the downside 1.5900 is the immediate Support level and there are good chances that the pair can continue to trade above 1.5900. Dips to 1.5900 can be considered for taking Long positions. Also the downside can be restricted to 1.5800 even on a break below 1.5900 as we see and we see strong Support in the 1.5900-5800 region.
Limit Buy Order
|AUD-USD @ 1.0345/48...Bearish. Sell rallies|
|R: 1.0400 / 1.0430 / 1.0460|
S: 1.0315-00 / 1.0213-00 / 1.0170-65Although the Aussie has seen a very good bounce back from its low of 1.0617 last week, the overall picture remains weak. Good Resistance is seen at 1.0400-30-60 levels and we expect these Resistances to hold. Rallies to 1.0400-60 can be sold. Also strong Resistance is seen in 1.0520-50 region. on the downside 1.0315-290 is the immediate Support region and intermediate Support is seen near 1.0200 (21-Week-MA). However, 1.0170-65 on the MOnthly chart is the importnt Support region which needs to be watched and a decisive break below this Support region will throw open the doors for a sharp fall to 1.000 initially and then to 0.9750-700 there after.
Limit Sell Order