|USD-CHF @ 0.8767/70...Support at 0.8745|
R: 0.8810 / 0.8860 / 0.8900-20
Dollar-Swiss has dipped below 0.8800. Support is seen at 0.8745 and then at 0.8720 which could be tested in the US session today. The pair is not showing much strength in its downmove below 0.8800. As such we expect the downmove to be limited to 0.8700 if the downmove extends in the US session today. But remember, break below 0.8700 could trigger a fall to 0.8600. We expect a bounce back to 0.8850-8900 in the coming sessions. We will have to wait and see what happens
|GBP-USD @ 1.5790/93...Resistance in 1.5800-30 region|
R: 1.5800-30 / 1.5870 / 1.5925
Cable has bounced back from near 1.5700 and has tested its intraday Resistance at 1.5800-30 region. We expect this Resistance region to hold and a pull back to 1.5700 or even lower can be seen in the coming sessions. Contrarily if a break above 1.5830 is seen , then the pair can extend its upmove towards its next Resistance at 1.5870. However, the broader picture is bearish and this bounce back rally could be short lived. We will have to wait and see what happens.
GBP 10K Short at 1.5820, SL 1.5880, TP 1.5470
|AUD-USD @ 1.0250/53...Can dip to 1.0200 once again|
R: 1.0275-0300 / 1.0385-0400
Aussie failed to see a strong break below 1.0200 and has bounced back well from the day's low of 1.0178. However, the Resistance at 1.0275 mentioned in our morning comments is holding well and is retaining the downside pressure. The pair has come off slightly from its high of 1.0283. We expect Aussie to continue to trade below 1.0300 and a pull back to 1.0200 is possible in the US session today. Also a strong break below 1.0200 could take the pair further down to 1.0120-00 or even 1.0000.
We got Stopped out of the Short position entered at 1.0190 losing 55 pips.