|USD-CHF @ 0.90107/10...Ranged with bearish bias|
R: 0.9100 / 0.9180-200 / 0.9250
Dollar-Swiss failed to rise past its important Resistance near 0.9250 and fell sharply from its high of 0.9251 to close lower for the week at 0.9085. Important to note is that after its fall from 0.9251, Dollar-Swiss did not break above 0.9200. This could leave the pair pressured on the downside in the coming days. 0.9060-40 region and then 0.9000 are the important Supports to be watched and a break below 0.9000 can take it down towards 0.8920-00. Remember, since the Resistance at 0.9245 is holding well, there is even a threat of seeing a sharp fall to 0.8750 on the downside. On the upside we see good Resistance in 0.9180-9200 region and rallies to this Resistance region can be sold.
Limit Sell Order:
|GBP-USD @ 1.6118/21...Bullish|
R: 1.6160 / 1.6300-30
Cable has finally seen an upside breakout of its 1.5800-6060 sideways range and has closed strongly at 1.6120 last week. The outlook is bullish now. Immediate Resistance is seen at 1.6160 and a strong break above it will trigger further rise to 1.6300-30 initially and then possibly to 1.6500 going forward. On the downside 1.6100 could be an immediate Support and then 1.6050-30 will be an important Resistance-turned-Support region to be watched. Dips to this Support region should be watched and if a bounce back move happens from this Support region, then longs can be taken. The 55-Week-MA (currently at 1.5964) and the 200-Week-MA (currently at 1.5932) are the next strong Supports on the downside. But whether we will see a sharp fall to this level now is the question.
|AUD-USD @ 1.0342/45...Ranged with bullish bias|
R: 1.0410 / 1.0460 / 1.0530
Aussie was ranged between 1.0300 and 1.0420 last week. The pair is getting good Support near 1.0300 and the outlook could be turning bullish within this sideways range. In slight bigger picture we see a broad sideways movement between 1.0230 on the downside and 1.0460 on the upside over the last three weeks. Having said this we expect a rise to test this Range Resistance at 1.0460 while above 1.0300. A strong rise past 1.0460-65 will take it further up towards 1.0530 which is the next important Resistance level to be watched. A strong break/close above this Resistance will open doors for a fresh rise to 1.0700. On the downside 1.0250-30 is the next important Support region to be watched below 1.0300.
We booked a profit of 25 pips from the Long position entered at 1.0320.
Limit Buy Order: