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

Dollar-Swiss has bounced back once again from near its Support at 0.9200 and is keeping our bullish view intact. While above 0.9200-0.9175 Support region, there are good chances of witnessing a break and an upmove towards 0.9350-80 in the coming sessions/days. Any sharp downmove is not looking likely now and even if a break below 0.9175 is seen, the downmove could be restricted to 0.9150-30. Note that the projected Max-Low for the day is 0.9158.

Cable has risen sharply breaking above its Resistance at 1.6150 following the data release showing much faster growth in the Service Industries. It is now trading Strong above 1.6200. There is Resistance at 1.6270 and a strong break above it might take it further up towards 1.6350-6400 in the coming sessions. On the other hand while below 1.6270 there is a chance of seeing a dip to 1.6150.

Aussie dipped further during the day and tested its Support at 1.0300. It has bounced back from its low of 1.0288. Now it has to be seen whether the downmove would still continue or a bounce back can happen from current level itself as the Support at 1.0300 has already been tested. We are not sure about this. However, a strong break above 1.0350 has to be seen for a strong upmove to happen. While below 1.0350, the chances of seeing 1.0250 on the downside cannot be completely ruled out. As per our weekly view we will be looking buy on dips to 1.0250 as the broader outlook continues to remain bullish

Holding:
AUD 10K Short at 1.0370, TSL 1.0340 (down from 1.0352), TP 1.0260 (changed from 1.0220)
As soon as the market trades 1.0300 bring TSL to 1.0340 and as soon as the market trades 1.0285 there after bring TSL further down to 1.0315

Limit Buy Order:
Buy AUD 10K at 1.0250, SL 1.0160, TP 1.0530

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