SwissUSD-CHF @ 0.7954/57...Outlook mixed

R: 0.8000 / 0.8080-8100
S: 0.7900-7880 / 0.7820-00

Dollar-Swiss has risen well from the day's low of 0.7892. The outlook continues to be mixed. We will have to wait for a strong breakout on either side of this 0.7900-8000 range. The broader trend is still down and as such the upside could be limited even on an upside break above 0.8000. On the upside 0.8100-30 is a strong Resistance region. We will have to wait and see what happens.

 

Limit Sell Order:
Sell USD 10K at 0.8080, SL 0.8145, TP 0.7820
EUR-CHF (1.1468) is continuing to trade above 1.1438. It has come off from its high of 1.1518. 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

CableGBP-USD @ 1.6255/58...Might test 1.6200

R: 1.6300 / 1.6350-70 / 1.6400
S: 1.6220-00 / 1.6125-00

Cable failed to sustain above 1.6300 and has come off sharply from its high of 1.6341. A further dip to 1.6200 looks likely in the US session today. A break below 1.6200 will be very bad for the pair as it could pull it further down to 1.6120-00. While 1.6200 holds, a bounce back to 1.6300-50 is possible once again. It needs to be seen how the pair closes for the week today. The immediate outlook is bearish for a test of 1.6200 and it will have to be seen as what happens from 1.6200.

 

We booked a profit of 10 pips from the Long position entered today at 1.6317.

AussieAUD-USD @ 1.0491/94...Outlook not clear

R: 1.0535-50 / 1.0600-30
S: 1.0450 / 1.0400-380 / 1.0334

Aussie is trading flat near 1.0500. With no significant move seen on either side during the day, our view remains the same as mentioned in our Morning comments. A test of 1.0550-0600 cannot be ruled out while above 1.0400. Also there is no immediate threat on the downside as long as the pair trades above the 200-DMA (1.0334). Only a strong break below 1.0300 will increase the downside pressure which could trigger a fresh downmove going forward. On the upside 1.0600-30 is a strong Resistance region and an immediate break above this Resistance region is not looking likely. The broader trend is down and we might expect a pull back from 1.0600 levels.

 

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!