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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USD-CHF @ 1.1946/51...Dipped after scaling 1.20
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R: 1.2068 / 1.2137 / 1.2177
S: 1.1852-50 / 1.1773-52 / 1.1723-07
Having scaled a high of 1.2019 during the early Asian session today, the pair has traded lower and continues to look weaker through the rest of the day. If the weakness continues, we could see it dip towards 1.1860. There is also a possibility of an upside during the US session to move upto 1.21 and then consolidate between 1.1850 and 1.2100 before it decides its future course of action.

If, however, markets tend to decide its course at the very instant, we could see an immediate surge to 1.2243 or a dip to 1.1752 right after the the pair is able to scale 1.21 or even before that.
 


 GBP-USD @ 1.4912/15...May rise to 1.51 on increased momentum
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R: 1.5109 / 1.5196-212 / 1.5321
S: 1.4855 / 1.4800-784 / 1.4446-17
Cable has risen by 200 bps since the time the morning edition was written. Till the time it is able to stay above the 21-SMA on the 4-hour chart, we could see some trend reversal in the near term. As mentioned in the morning, the "amplitude measure" being high suggests extreme volatility we could see a range of 500 bps on either side.

For the near term, we could see the pair oscillate between 1.45-1.50. If however, it is able to break the range on the upside, which seems possible having risen sharply during the day, it may even go upto 1.51. However, the downside looks restricted to 1.45 for a while.

 
 AUD-USD @ 0.6476/80...Potential to go towards 0.6660
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R: 0.6538 / 0.6589 / 0.6626-35 / 0.6712
S: 0.6493-506 / 0.6299 / 0.6120-099
The pair has traded ranged during the day between 0.6400-0.6560. The Support at 0.6360 held and there is an upside potential towards 0.6660 as mentioned in the morning. For it to show some bullishness beyond that, the pair will first have to trade above 0.66 for some considerable time.

However, in the bigger picture it could trade ranged between 0.6340 and 0.7010 during the week.

Happy Trading!