|USD-CHF @ 0.9281/85...Resistance at 0.9300|
|R: 0.9300 / 0.9350|
S: 0.9240 / 0.9200-0.9175
DOllar-Swiss has bounced back slightly from the low near 0.9235. The broader outlook remains bearish. Immedaite Resistance is seen at 0.9300 and a break above it might take it further up to 0.9350 which is a very significant Resistance level which is expected to hold in the US session today incase a break above 0.9300 is seen. Only a strong break above 0.9350 will ease the current downside pressure. On the downside Support is seen in 0.9200-0.9175.
|GBP-USD @ 1.6095/98...Might test important Support in 1.6050-40|
|R: 1.6150-70 / 1.6200 / 1.6275-6300|
S: 1.6050-40 / 1.6000
Contrary to our expectation Cable witnessed a break below 1.6100 we got stopped out of our Long position entered at 1.6120 losing 50 pips. It is now trading just below 1.6100. While below 1.6100 we might expect further dip to 1.6050 in the US session today. 1.6050-40 is a very strong Support seen on the downside which we expect to hold as the broader picture remains bullish. As of now we would want to stay away from the market and watch for today's close.
|AUD-USD @ 1.0136/39..Ranged with bullish bias.|
|R: 1.0170-00200 / 1.0250|
S: 1.0100 / 1.0050 / 1.0000
Aussie came down during the day just to trigger out TSL and has bounced back once again from the low of 1.0090. A test of the significant Resistance at 1.0170 looks likely in the coming session. Overall the pair has been ranged between the 21-Week-MA (currently at 0.9950) on the downside and 1.0200 on the upside. A breakout of this sideways range would determine the further direction of move. We expect an upside break of this range as the overall trend is still up. We will have to wait and watch.
We booked a profit of 55 pips from the Long position entered at 1.0050.