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USD-CHF @ 0.9165/68...Can still rise to 0.9300-50 |
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R: 0.9200-25 / 0.9300 / 0.9350 Dollar-Swiss did not sustain the break above its Resistance at 0.9230 and has come off sharply during the day. The pair is now bouncing back now from the day's low of 0.9153 and it will have to be seen whether it manages to bounce back above 0.9200 once again or not. Since the pair did not break below the 100-DMA (currently at 0.9163) during the sharp fall today, there is still good chance of seeing 0.9300-50 on the upside. We will have to wait and see. We are exiting the second short position at the market We got stopped out of the Long position entered at 0.9230 losing 70 pips. Exit Trade (at the time of writing) |
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GBP-USD @ 1.5780/83...Bullish |
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R: 1.5800-20 / 1.5880-5900 Cable has found good Support near 1.5700 and has bounced back sharply from the days's low of 1.5706. The picture is looking bullish and a further rise to 1.5800-50 looks possible now. Only a strong break below 1.5650 will turn the view bearish. As we had mentioned in our weekly view, in the bigger picture the pair now has good chance of seeing 1.6000 on the upside in the coming days. |
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AUD-USD @ 1.0671/74...Bullish |
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R: 1.0680 / 1.0735-50 Aussie has risen back from its low of 1.0569 and is now trading just below its Resistance at 1.0680. The broader picture is bullish and a test of 1.0735-50 is possible now. As mentioned in our weekly view, this 1.0735-50 is an important Resistance region to be watched and a strong rise past this Resistance region will be very bullish and it can take the pair up to 1.19-21 in the long term. On the downside strong Support is seen in 1.0550-00 region. Happy Trading! |
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