Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
USD-CHF @ 0.9557/60...Can find Support in 0.9500-480 region R: 0.9600-20
S: 0.9550 / 0.9500-480
Dollar-Swiss saw an intraday high of 0.9595 and is coming off from its high now. The overall picture is still bullish and if the pull back move extends further, the pair could find good Support in 0.9500-480 region. Having said this, we do not see any threat on the downside and as we had mentioned in our Morning comments, the bigger picture is very much bullish and the upside is now open for a strong rally to 0.9900-1.0000.
GBP-USD @ 1.5684/87...Watch Resistance at 1.5700 R: 1.5700 / 1.5740-50 / 1.5800
S: 1.5620-00 / 1.5530-00
Cable fell to a low of 1.5639 and has bounced back from there. It needs to be see whether the pair manages to rise further and break above 1.5700 to extend its upmove in the coming sessions. A break above if seen will ease the downside pressure and can take the pair up to 1.5750-5800. Failure to rise past 1.5700 will keep the pair pressured on the downside and a fall once again to 1.5620-00 will be possible. A strong break below 1.5600 can see 1.5500 on the downside.
AUD-USD @ 0.9780/83...Immdeiate Resistance at 0.9800 R: 0.9800 / 0.9850-75
S: 0.9700 / 0.9660
Aussie is getting Support near 0.9700 and has risen above its Resistance at 0.9770. The pair now needs to break above 0.9800 to ease the downside threat further. A break above 0.9800 can take it up towards 0.9850-75. On the other hand a failure to rise past 0.9800 can keep the pair ranged between 0.9700 and 0.9800 for some time and it will also keep alive the chances of seeing the important Support at 0.9660 on the downside.
Happy Trading!
No comments:
Post a Comment