USD-CHF @ 0.9295/98...Bearish
R: 0.9300 / 0.9400 / 0.9460
S: 0.9210 / 0.9185 / 0.9100
The pair has been weak as it broke its 0.9520-380 range on the down side as Euro strengthened. Also the fact that Dollar index (80.21) has weakened and can dip further towards 79.55. in the coming days as well we can see the Euro strengthening and the riskier assets gaining as the Euro tensions seem to be easing. Swiss now seems bearish and can slide further lower towards 0.9200 and 0.9100 in the coming sessions. But a relief rally before a dip can well be expected towards 0.9300-50 which would be a good selling opportunity. ADX has also risen and looks strong which also suggests a Swift move going forward. So the theme for the week will be a relief rally first and then a dip.
Limit Sell Order
Sell USD 10K at 0.9375, SL 0.9440, TP 0.9210
GBP-USD @ 1.6002/05...1.6050 has to be seen closely
R: 1.6050 / 1.6080 / 1.6160
S: 1.6000 / 1.5910
The pair has risen this week as expected and now stands at the weekly resistance of 1.6050. USD has weakened and it has also reflected in Cable as well. In the coming week the outlook depends on if Cable breaks its 1.6050 resistance or holds it. If we see 1.6050 being taken out then a further rise towards 1.6080 and 1.6160 can well be seen but the ADX is not rising as expected and is flat so the strength does not seem to be very good. On the other hand if it takes resistance at 1.6050 a move lower towards 1.5900 again. The candles are suggesting a trend reversal at least for the short term and a rise towards 1.6160 is likely. So the bias is mildly positive as we can see a rise towards 1.6160 in the coming sessions. Wait for the pair to sustain above 1.6050 which would then mean that a further rise can then be seen.
AUD-USD @ 1.0441/44...1.0480 holds the key
R: 1.0480 / 1.0505 / 1.0590
S: 1.0350 / 1.0280 / 1.0225
Aussie traded sideways between 1.0480-280 range and also traded in the 1.0430-350 range as well. But rose well on Friday and can now break the 1.480-280 range on the upside and can now move towards 1.0535-85. The rise can well be swift now after 1.0480 is broken as the ADX is rising well. The weekly candle is also looking good but it needs to give a strong close above 1.0480. But if at all 1.0480 is not broken then the 1.0480-280 range can well be expected to continue and a dip towards 1.0280 is likely to be seen. Looking at the short term charts (four hour) we can see an inverted SHS which has bullish implications. A break above this has already taken place and a rise towards 1.0570 an well be seen. Buy near dips to 1.0420 with a narrow stop.
Limit Buy Order
Buy AUD 10K at 1.0425, SL 1.0390, TP 1.0510