EURO, JAP YEN and EURO-YEN
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering to our newsletter.USD-CHF @ 1.1654/56...Surged
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R: 1.1658 / 1.1803 / 1.1880
S: 1.1611 / 1.1539 / 1.1483
Dollar-Swiss has surged during the day rising past the Resistance region of 1.1550-1.1590 that we had mentioned earlier. There's an immdeiate Resistance at 1.1670-80, beyond which we see it racing up to 1.18 over the next couple of days. A fallback towards 1.1500 is no more preferred. However, it may also remained ranged near teh current region before making fresh bullish moves in the fresh week. But that option does not seem to be too likely.
GBP-USD @ 1.4791/93...13-DMA Support eyed
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R: 1.4816 / 1.4887 / 1.4926
S: 1.4766 / 1.4734 / 1.4675
Cable has spiked below the 13-day MA on the downside, and we are now looking for a fall towards the 21-day MA at 1.4653. The range of 1.48-1.50 had been broken in the process. But till the 13-DMA holds, we could see the range of 1.4774 to 1.5000 being maintained. Till 21-day MA Support holds, the rise towards 1.53 cannot be ruled out. A long term range of 1.35-1.55 for the next few months looks likely.
AUD-USD @ 0.7203/08...Ranged
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R: 0.7230 / 0.7302 / 0.7581
S: 0.7168 / 0.7116 / 0.7089
Aussie was ranged during the day well within the broad range of 0.7087-0.7315. This range is likely to hold during the US session as well. Or rather a narrow range of 0.7170-0.7220 would be preferred. The 21-MA on the 4-hourly is enveloping and possibly pressuring the pair downwards. Let's see how things pan out during the US session.
Happy Trading!







