USD-CHF @ 0.7901/04...Might rise to 0.7950 once again.

R: 0.7950 / 0.7985-8000 / 0.8100
S: 0.7880 / 0.7850 / 0.7800

Dollar-Swiss dipped to a low of 0.7883 and is now bouncing back from there. Support is seen at 0.7880, and while it holds a rise to 0.7950 is possible. Also while above 0.7880, the chance of seeing 0.8000 on the upside is still alive. On the downside 0.7850 is a significant Support level to be watched for and only a break below 0.7850 will reduce the chances of seeing 0.8000+ levels on the upside.
EUR-CHF (1.1402) has come off from the day's high of 1.1454. The overall trend is down and a rally to 1.1550-1600 can be considered for taking Short positions.


Limit Sell Order:
Sell EUR 10K at 1.1550, SL 1.1630, TP 1.1170
Sell EUR 10K at 1.1580, SL 1.1630, TP 1.0850


GBP-USD @ 1.6470/73...Outlook not clear. Stay away

R: 1.6535 / 1.6585 / 1.6630-50
S: 1.6450 / 1.6380 / 1.6300

Cable has failed once again to sustain the break above 1.6500 and has come off sharply from its high of 1.6534. It is now trading just above its crucial Support at 1.6450. Continuous failure to see a strong break/close above 1.6500 keeps the pair pressured on the downside and a strong break below 1.6450 could trigger a fall to 1.6300. We will have to wait and see what happens. We are staying out of the market as the outlook is not clear.


We got stopped out of the Long position entered at 1.6498 losing 38 pips.


AUD-USD @ 1.0490/93...Support at 1.0450 holding

R: 1.0500 / 1.0550 / 1.0600-30
S: 1.0450 / 1.0380 / 1.0325-00

The Support at 1.0450 is holding well and the Aussie has risen from the day's low of 1.0447. But it is finding Resistance near 1.0500 and a break above it will have to be seen for the upmove to extend further to 1.0550-0600. Only a strong break below 1.0450 will reduce the chance of seeing 1.0600 on the upside. As of now there is no immediate threat of seeing a break below 1.0450. However, if the pair fails to bounce back above 1.0500, then a break below 1.0450 could take it down towards 1.0325-00. We will have to wait and see what happens.


Limit Sell Order:
Sell AUD 10K at 1.0590, SL 1.0655, TP 0.9975
Sell AUD 10K at 1.0620, SL 1.0665, TP 1.0360

Happy Trading!