|USD-CHF @ 0.9466/68...Bearish|
|R: 0.9590-9620 / 0.9680-0.9700 / 0.9745|
S: 0.9430 / 0.9350-30
Dollar-Swiss failed to see a strong break above 0.9500 and has come off from its high of 0.9523. The pair is trading once again lower below 0.9500 and is keeping up our bearish view intact. Our view remains the same. The chances of a rally towards 0.9700, the level at which we wanted to sell is now very less. Now we see strong Resistance in 0.9590-9620 region which might hold for the rest of the week. As such we would want to sell on a rally towards 0.9590-9620 now. As mentioned yesterday in our weekly view, a further downmove towards 0.9350-30 can be seen this week.
Limit Sell Order:
|GBP-USD @ 1.5779/82...Holding Long|
|R: 1.5830-50 / 1.5900 / 1.5980-6000|
S: 1.5750 / 1.5720 / 1.5695
Cable tanked breaking below 1.5900 following the bad UK economic data released today. It is now trading in its significant Support in 1.5800-5750 region which we had mentioned in our Weekly view yesterday. We expect this Support reigon to hold and might see a bounce back once agian toward 1.5830-50 in the coming sessions. This sharp fall might see less momentum on the bounce back move and we will have to wait and watch whether the pair gathers momentum for a rise back to 1.6000-6100 levels once again.
|AUD-USD @ 0.9930/33...Important Support in 0.9830-00 region|
|R: 1.0000-20 / 1.0180 / 1.0250|
S: 0.9900 / 0.9860 / 0.9830-00
Aussie has come off from the day's high of 0.9993 and our Limit Sell Order was missed by 7 pips. 0.9920-00 is a very significant immediate Support region to watch for. A break below 0.9900 might pull it further down towards 0.9830-00. As mentioned yesterday only a strong break below 0.9800 would reverse the strong uptrend. We expect this Support region to hold and the overall uptrend to continue. As per our weekly view we would want to enter Long position in 0.9830-00 Support region and retain the Sell Order placed in the morning today with tight stop.
Limit Sell Order:
Limit Buy Order: