|USD-CHF @ 0.9292/95...Weak|
R: 0.9300 / 0.9340 / 0.9400-15
The pair for most part of the day was trading above its support of 0.9315-00 but eventually gave way to break the support moving lower. If the pair manages to close below 0.9300 on a weekly basis then it will give bearish signal in the medium term and can move even lower, the momentum on the down side has been good and the pair has moved swiftly. The short term charts do look oversold and short covering rally to 0.9300 cannot be ruled out. The next support on the pair comes in at 0.9120 which is a trend line support on the monthly charts, so the down side is open if the pair confirms the break of 0.9300.
|GBP-USD @ 1.6212/15...Bullish|
R: 1.6235 / 1.6300
The pair looks strong and continues its up move above 1.6200 targeting 1.6300, if the pair manages to close above 1.6200 it would be a strong weekly closing. It continues to be in a strong uptrend since Aug end and has not given any significant dip in the recent rally. Post the FOMC the pair has risen even strongly. It now has good supports on the down side at 1.6160 and 1.6080 which should cap the down side for the pair.
|AUD-USD @ 1.0585/89...Approaching resistance|
R: 1.0600 / 1.0650-60
The pair rose breaking its trend line resistance of 1.0600 but could not sustain the higher levels and currently trades lower below 1.0600. The pair if breaks 1.0600 can move towards 1.0650-60 which is a trend line resistance on the weekly charts and should cap the upside for the pair even though the Dollar seems to be weakening against all the currencies. On the down side the pair if breaks 1.0560 can open doors towards 1.0480 and even 1.0430