USD-CHF @ 0.9185/88...Bearish
R: 0.9210 / 0.9240-50/ 0.9310
S: 0.9165-60 / 0.9100-0.9090 /

The pair was bearish for the week as it continues to loose ground. Dollar remains weak and we expect it to weaken further in the coming days. Looking at Dollar-Index (79.55) has fallen breaking many important supports and looks bearish for further weakening in the coming days. While Dollar-Index remains below 79.80 it is expected to weaken further towards 78.50 in the coming days. For Dollar-Swiss thus the expectations remain bearish for a break and fall below 0.9165-60 for a move towards 0.9000-8950 in the coming days. 0.9100 is a support from where it can see a bounce towards 0.9160 but expected to short lived and can be sold again. Dollar is looking weak and we can see it weakening further in the coming days against most of the currencies.
 
 
GBP-USD @ 1.6186/89...Bullish
R: 1.6200 / 1.6315 / 1.6435
S: 1.6160 / 1.6080-50 /

Cable in the first half of the week rose up but then consolidated for rest of the week in the 1.6160-6080 range until Friday when it rose to give a weekly close above 1.6160. the outlook remains bullish as the daily and the weekly charts continues to look good. In the coming days we can see levels of 1.6300 and even 1.6435-65 on Cable. ADX has started to rise from lower levels and looks good for a further rise which indicated that Cable is likely yo have strong moves in the current uptrend. Dips are now expected find support near 1.6080 which should limit its down side. Weekly charts are looking strong which indicated that the medium/long term trend both are bullish.

Limit Buy Order
Buy GBP 10K at 1.6080, SL 1.5990, TP 1.6195
Buy GBP 10K at 1.6020, SL 1.5960, TP Opens


 
 AUD-USD @ 1.0531/34...A rise to 1.0620 looks likely
R: 1.0610-20 / 1.0710
S: 1.0480 / 1.0430

Aussie managed to close above 1.0560 for the week which is positive for the pair. Through the week it did trade a bit mixed after initially breaking above 1.0480 it consolidated in the 1.0560-480 range before closing above 1.0560. For the coming week a rise to 1.0620 looks likely. A rise past 1.0620 can be further bullish to see higher levels of 1.0800-50, ADX has bottomed out and has started to rise which support the current up trend. Dips from current levels are expected to take support near 1.0480-60 levels and can be considered as buying opportunities. Further the pair does not have resistances above 1.0620 which can push it further up. But first a rise to 1.0620 has to be seen.

However, the long term picture is looking very very bullish. There is a good Descending Triangle on the Weekly Line chart which has given a breakout on the upside. 1.0400 will now be a very strong Support level and the target of this descending triangle is coming to be 1.17-18. This rise could be supported by the increase in interest rates by the RBA.


Happy Trading!