EURO, JAP YEN and EURO-YEN
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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$-Swiss @ 1.2412/16…..Bearish biased
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R: 1.2427 / 1.2450
S: 1.2400 / 1.2380 / 1.2350
$-Swiss has had a sharp upmove during the day recovering all the lost ground of the morning. This rally at the momment looks to be corrective in nature, which should soon meet sellers around 1.2427, which is the statistically projected Max Low for the day. If that is crossed, here may be a rally towards 1.2450. On the downside the Supports are coming in at 1.2400 and then at 1.2380. A break below these restart the fall and then there may be a fall towards 1.2350. The bias for the week continues to be bearish while below 1.2450.
 
Cable @ 1.9056/60….Support at 1.9045
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R: 1.9100 / 1.9150
S: 1.9050-47 / 1.9000 / 1.8950
The Cable has had a sharp fall during the day to break below its important support of 1.9100. With this now it is likely that the pair would continue to trade within its range of 1.9150 and 1.8950 (in the week), and a move above 1.9150 (last week) was a blip and not a breakout.
Now today there is an important Support at 1.9050, which if broken, would bring more selling in the pair. If so, the pair could target 1.9000 over today or tomorrow. Note that the statistically projected Max Low on the daily is at 1.9047. On the upside the Resistances are now at 1.9100 and then at 1.9140. The intraday bias has now turned cautious.


Aussie @ 0.7646/50…….Bearish biased
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R: 0.7670 / 0.7690
S: 0.7643-41 / 0.7631-25 / 0.7600
The Aussie continued its weakness during the day as it hit a low of 0.7643. Now this is an important Support as the pair had bottomed around 0.7641 last week. A break below 0.7643-41 now would increase the pressure over the pair. If this breaks, there may be a decline towards 0.7631-25, the former bring the statistically projected Max Low for the day. The Support below this is at 0.7600. On the upside the Resistances are coming in at 0.7670 and then at 0.7690. The bias for the day (and the week) remains bearish currently.


Happy Trading!