SwissUSD-CHF @ 0.9251/54...Might rise before further fall
R: 0.9300 / 0.9350 / 0.9450
S: 0.9200-0.9175 / 0.9100

The Support near 0.9200 held and the contrarian view that we took worked well last week. However, Dollar-Swiss failed to see a strong break above 0.9300 last week thereby is keeping the overall downtrend intact. Crucial Support is seen in 0.9200-9175 region. We might expect this Support to hold on its first test this week. While this Support in 0.9200-9175 holds, we might see one more upmove to 0.9300-50 Resistance region this week. As mentioned above the broader downtrend remains intact and as such we will be looking to sell rally to 0.9350 this week. Also as we expect the Support in 0.9200-9175 to hold on its first test we will continue to take the contrarian trade this week also for a rally to 0.9300-50.

Euro-Swiss (1.2966) has risen well from 1.2704 (24-Feb-11). A further rise to 1.3030-50 looks likely in the coming days. Strong Resistance is seen in 1.3030-50 region which is expected to hold and we migh tsee a pull back to 1.2900. This reflects immediate weakness in Swiss which is to be followed by strength in Swiss once again.

Limit Buy Order:
Buy EUR 10K at 0.9185, SL 0.9110, TP 0.9320

Limit Sell Order:
Sell EUR 10K at 0.9330, SL 0.9380, TP Open

CableGBP-USD @ 1.6318/21...Bullish
R: 1.6335-50 / 1.6450 / 1.6500
S: 1.6220-00 / 1.6100 / 1.6050

Cable is retaining its strength and has bounced back once again above 1.6300 today. But the Resistance in 1.6335-50 region is still holding. This 1.6335-50 region will have to be watched and a strong break above it might trigger further upmove to 1.6500-6600. While below 1.6335-50 Resistance reigon, then there is still chance of seeing a dip to 1.6200-6100 in the coming sessions. 1.6100 is a very strong Support level which is expected to hold incase a sharp dip is seen from 1.6335-50 Resistance region. As such a dip to 1.6100 can be considered for taking Long positions. But whether we will get a chance for a dip to 1.6100 is a big question because 1.6200 is itself a strong Support. We will have to wait and watch. Incase if the pair continues its upmove from current levels itself, then we will be entering Long on a strong break above 1.6350. Overall the pair is bullish and we will trading from the Long side this week.

Limit Buy Order:
Buy GBP 10K at 1.6150, SL 1.6070, TP 1.6500
Buy GBP 10K at 1.6100, SL 1.6040, TP Open

Stop Loss Buy Order:
Buy GBP 10K at 1.6370, SL 1.6270, TP 1.6500

AussieAUD-USD @ 1.0172/74...Bullish. Buy dips
R: 1.0200 / 1.0250-80 / 1.0350
S: 1.0120-00 / 1.0050-20

Aussie is retaining the sideways range of 0.9950-1.0200. The broader uptrend remains intact. Also we are seeing a Rising Wedge. As such we might see a break above 1.0200 which might take it further up towards 1.0280-0300-0350 in the coming days. Significant Supports seen in 1.0120-00 and then in 1.0050-30 region. As such our strategy for this week will be to buy on dips. On the other hand there is Resistance near 1.0280 and we will watching the market to consider selling near this Resistance level. Overall the broader uptrend remains intact and we will be looking to buy on dips.

Limit Buy Order:
Buy AUD 10K at 1.0140, SL 1.0095, TP 1.0280
Buy AUD 10K at 1.0070, SL 1.0020, TP 1.0280