|USD-CHF @ 0.9353/55...0.9340 holding as of now|
R: 0.9400 / 0.9420-35 / 0.9500
The Support at 0.9340 mentioned in our Morning comments is holding as of now. A break below 0.9340 can take it futher down towards 0.9300 which is an important Resistance-turned-Support level to be watched for. An immediate break below 0.9300 is not looking likely and a bounce to 0.9420-30 or 0.9500 is possible from this Support level. We will have to wait and see whether the bounce back move happens from 0.9340 itself or the downmove extends further to 0.9300 before any further rise.
|GBP-USD @ 1.5595/98...Can fall sharply|
R: 1.5632 / 1.5680-700 / 1.5750
Cable is trading mixed and ranged between 1.5560-5625. With lack of upside momentum for a strong rise above 1.5600, the chances of seeing a break below 1.5550-00 remains high. Our view remains the same as mentioned in our Morning comments. The 21-DMA Resistance (currently at 1.5632) is holding well and while this Resistance continues to hold, a break below 1.5550 is more likely and it can pull the pair down to 1.5500. A further break below 1.5500 would be very bad for the pair and it can drag it down to 1.5300-250. We will have to wait and see what happens.
|AUD-USD @ 1.0125/28...Sell Some|
R: 1.0150 / 1.0200
Aussie has bounced back above 1.0100. Important Resistnaces seen near 1.0150 and then near 1.0200. While below 1.0200, the pair is expected to remain pressured on the downside and the downside is open for a test of 1.0000-0.9950. We are going short again to catch the fall to 1.0000-0.9950.
Market Trade (at the time of writing):