USD-CHF @ 1.1744/48... Could test 1.18 ----------------------------------------- R: 1.1800-25 / 1.1870 / 1.1950 / 1.2000 S: 1.1700 / 1.1600 / 1.1550 / 1.1500 The pair continues to trade within the range dipping slightly lower during the day. On seeing the hourly chart there seems to be a tighter 100-pip range between 1.17-18, which seems to have developed in the last couple of days.
Despite this tight range the pair is within an overall wider range between 1.1550-1800, which is likely to hold this week. The Resistance at 1.18 could be tested over the US session. A break below 1.17 does not seem likely but if seen could result in test of 1.16 on the downside.
GBP-USD @ 1.5806/10... Resistance at 1.59-60 --------------------------------------------- R: 1.5800 / 1.5900 / 1.5970 / 1.6050 S: 1.5752 / 1.5650-60 / 1.5550-00 / 1.5260 Cable slipped during the day to find Support at 1.5676 and has been trading steadily thereafter. For now, there is a decent chance that the pair could see a rise towards 1.59 during the US session. However, a rise much beyond 1.59 might not be seen owing to the Resistance in the region.
A dip instead is likely to find buying develop between 1.57-1.55. Overall, Cable currently trades within a wide range of 1.55-60. The strategy should be to trade the range rather than a break out.
AUD-USD @ 0.6937/41... Likely to target 0.70 ------------------------------------------- R: 0.6950 / 0.7000-25 / 0.7075 / 0.7100-25 S: 0.6900 / 0.6800 / 0.6760 / 0.6700 / 0.6625 As per the expectation the pair has risen during the day and currently trades above 0.6900. In all likelihood the bullishness will continue from hereon during the US session as well. The rise could well target 0.7000. The stimulus plan by China is said to have brought some relief to the markets and the slip in Dollar-JPY indicates that safety is not the top most priority, at least for the moment.
A slip from here is likely to find Support at 0.6800 and at 0.6725 below it. Overall, the pair trades within a broad range of 0.65-0.70.
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