|USD-CHF @ 0.9608/11...Bullish|
Dollar-Swiss is trading in a narrow range of 0.9585-9630 today. With no significant move seen on either side during the day, our view remains the same. The overall bullish outlook remains intact. A further rise to 0.9670-700 looks likely now. As mentioned in our weekly view, this 0.9670-700 is an important Resistance region and a strong break above it can take the pair further up towards 0.9950-1.0000. On the downside 0.9600 is the immediate Support and then 0.9560 (21-DMA) and 0.9500 are the other important Support levels seen below 0.9600.
Limit Buy Order:
|GBP-USD @ 1.5539/42...Can test its important Resistance at 1.5640|
R: 1.5560 / 1.5600 / 1.5640
Contrary to our expectation, the Support at 1.5450 has held very well and the Pound has risen sharply above 1.5550. Immediate Resistance is seen near 1.5560 and a break above it can take the pair further up to 1.5620-40. As mentioned in our weekly view yesterday, 1.5640 is an important Resistance level to be watched on the upside and a strong break above this Resistance is needed for the pair to reduce its downside pressure and take the pair up to 1.5750-5800.
|AUD-USD @ 0.9917/20...Mixed and ranged|
R: 0.9930 / 1.0000
Aussie is trading silent in a narrow range of 0.9875-9930 today within its broad 0.9800-1.0000 sideways range. Our view remains the same. The pair is now trading at the middle of its broad 0.9800-1.0000 sideways range and the immediate outlook is not clear. We prefer to stay out of the market and wait for a breakout on either side of this range to get clear idea on the further direction of move.
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