Forex Trading ideas for USD/CHF, GBP/USD and AUD/USD

Dollar-Swiss did indeed rally to 0.9355 during the day and has dipped a bit from there. The market is trading sideways between 0.9355 and 0.9200 for the past few days. As such, while the Resistance at 0.9355 holds, there can be chances of seeing a fall towards 0.9250. On the other hand, a break above 0.9360 (projected Max High for the Day) could take the pair much higher, towards 0.9450.

Cable is not showing much strength to see a strong break above 1.6200 since the Asian session today. lack of upside momentum is keeping high chances of seeing further downmove towards 1.6100 in the US session today. As mentioned in our Weekly view, 1.6100 is a very strong Support level which is expected to hold. We will be entering Long on a dip. The broader picture remains bullish and we might expect a bounce back from 1.6100 towards 1.6300-50 once again in the coming sessions.

Whipsawing up and down within 1.0075-1.0185, with a bit of a Bearish bias, suggesting another dip to 1.0075-70 might be possible. Below 1.0075, there is further strong Support at 1.0050. Overall trend remains up. We'd be looking to buy on a further dip from here.

Limit Buy Order:
Buy AUD 10K at 1.0070, SL 1.0030, TP 1.0280

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