SwissUSD-CHF @ 0.8803/06...Can dip to 0.8750

R: 0.8860 / 0.8900
S: 0.8750 / 0.8700

Dollar-Swiss fell during the day to a low of 0.8790. Failure to extend its upmove towards 0.8900 leaves high chances of testing 0.8750 on the downside in the coming sessions. On the upside Resistance is seen at 0.8900 and a strong break above it can take it further up to 0.9000 which is an important Resistance seen on the upside. OVerall the pair could be ranged between 0.8750 on the downside and 0.8900 on the upside until FOMC meet tomorrow.


Limit Sell Order:
Sell USD 10K at 0.8990, SL 0.9045, TP 0.8730

CableGBP-USD @ 1.5722/25...Resistance at 1.5750

R: 1.5750 / 1.5820
S: 1.5700 / 1.5650

Cable has risen above 1.5700. A test of 1.5750 is possible in the US session today where some Resistance is seen. The 100-Week-MA (currently at 1.5820) is an important Resistance level to be watched on the upside which is expected to hold incase the current bounce back move extends further up above 1.5750. The big picture remains bearish and a strong break below 1.5650 will have to be seen for a strong fall to 1.5450.


GBP 10K Short 1.5655, SL 1.5735, TP 1.5470
GBP 10K Short 1.5715, SL 1.5755, TP 1.5470

AussieAUD-USD @ 1.0280/83...Immediate Resistance in 1.0300-20 region.

R: 1.0300-20 / 1.0390-0400
S: 1.0200-0180 / 1.0120-00

Aussie has risen sharply during the day and is now trading just below 1.0300. Resistance is seen in 1.0300-20 region which is expected to hold and pull back to 1.0200-0150 is possible once again. On the other hand a rise past 1.0320 can take the pair further up to the 200-DMA Resistance which is currently at 1.0393. The bigger picture remains bearish and the downside is still open for a fall to 1.0100-000 while below 1.0400.


We got stopped out of the Short position entered at 1.0190 losing 75 pips.

AUD 10K Short at 1.0235, SL 1.0325, TP 1.0050

Happy Trading!