USD-CHF 1.0538/41...Mixed

R: 1.0550 / 1.0600 / 1.0650 

S: 1.0500-480 / 1.0400 / 1.0350

Dollar-Swiss honoured the Support at 1.0500-480 and came up in the European session today. We may still see the pair move in this range of 1.0500-550 before it break on the either side in the US session today. We are not sure of the course the markets will take and will prefer staying out of the markets today.


GBP-USD @ 1.5590/93...May see some more fall

R: 1.5700 / 1.5800 / 1.5900

S: 1.5535 / 1.5500 / 1.5421

Cable touched a high of 1.5665 in the European session today but is currently trading below 1.5600. We see good chances of the pair coming down towards 1.5550-00 before an upmove in the coming days. Please note that the pair has some strong and important Supports in the 1.5500-50 region (21 Month MA at 1.5511, 200 DMA at 1.5510 and a Trendline Support at 1.5550) which may be tested, but may not be broken easily.Please note that in the longer term, we continue to hold our view of a double bottom on the monthly charts which may result in a very strong upmove in the coming weeks/ months towards 1.62-63.

Limit Buy Order:

Buy GBP 10K @ 1.5540, SL 1.5475, TP Open
Buy GBP 10K @ 1.5500, SL 1.5410, TP Open


AUD-USD 0.8969/72...Important Support at 0.8950

R: 0.9000 / 0.9050 / 0.9150
S: 0.8950 / 0.8850-30 / 0.8719

Aussie has come down and is currently trading just above the important Support at 0.8950. Please note that 0.8950 has been giving good Support to the pair since 3 days now and we need to wait and watch of this holds today also. Please note that a break below 0.8950 may pull the pair towards 0.8850-30 in the coming sessions/days with chances of falling towards 0.8750 in the next week.Additionally, the 13 Month MA (0.8882) has been moving up steadily and is just below the 8 Month MA (0.8883). We need to keep a close eye on whether the 13 Month MA crosses the 8 Month MA from below in the next week. If it does, it may be bearish for the pair in the coming weeks.

Happy Trading!