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

USD-CHF @ 0.8464/67...Sell rallies

R: 0.8500 / 0.8525-50 / 0.8575
S: 0.8400 / 0.8350 / 0.8300

Dollar-Swiss is continuing to trade higher as expected and has risen further as expected. A test of 0.8500 looks likely in the US session today and a break above 0.8500 might see the upmove extending further to 0.8550. This 0.8550 is a very important Resistance level to be watched for which we expect to hold. A pull back can be seen from this 0.8550 Resistance. As such a rally to this Resistance level can be considered for taking Short position.

We booked a profit of 20 pips from the Long position entered at 0.8425.

Limit Sell Order:
Sell USD 10K at 0.8545, SL 0.8625, TP 0.8320

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GBP-USD @ 1.6010/14...Outlook not clear. Stay away

R: 1.6100-20 / 1.6180-6200 / 1.6250
S: 1.6000 / 1.5950

Cable failed once again to see a strong break above 0.6100 and has come off from its high of 1.6096. The outlook remains mixed. We will have to see a strong break above 1.6100 for the upmove to continue further towards 1.6200-50. While below 1.6100, the pair is expected to oscillate in between 1.5950 and 1.6100. With the outlook being unclear, we are staying out of the market.

AUD-USD @ 1.0711/14...Bullish

R: 1.0750 / 1.0800 / 1.0850
S: 1.0700 / 1.0650 / 1.0600

Aussie is trading flat above 1.0700. Our view remains the same. The overall outlook remains bullish with strong Support in 1.0650-00 region and a break above 1.0750 would open doors for a fresh rise to 1.10 levels once again. Only a break below 1.0600 will reduce the bullishness on the pair.

Limit Buy Order:
Buy AUD 10K at 1.0635, SL 1.0560. TP Open
Happy Trading!

This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service