|USD-CHF @ 0.9120/23...Might test its Significant Resistance in 0.9225-50 region|
R: 0.9200 / 0.9225-50
Dollar-Swiss has risen well during the day and is keeping up our bullish view intact for a test of 0.9225-50 on the upside. Significant Resistance is seen in this 0.9225-50 region and we might see a pull back to 0.9100-9050 from this 0.9225-50 Resistance region. The bigger picture remains bullish as the pair is trading strong above its 200-DMA (currently at 0.8820). Also, as mentioned in our Morning comments, there are rumours in the market that the SNB could raise the floor for Euro-Swiss to 1.25 from 1.20. As such any pull back move from 0.9225-50 region could be limited.
Limit Sell Order:
|GBP-USD @ 1.5400/03...Might dip further to 1.5350|
R: 1.5450 / 1.5500-20
Cable has dipped further below its significant 1.5450-35 Support region. The picture now looks very bad and an immediate dip to 1.5350-35 looks possible in the US session today. There could be a slight bounce back from 1.5350-35 Support region. However, the bigger picture now looks very bearish for a fall even to 1.5000. Any bounce back move could find strong Resistance in 1.5500-20 region and only a strong break above this 1.5500-20 Resistance region will ease the downside pressure.
GBP 10K Short at 1.5414, SL 1.5505 , TP Open
|AUD-USD @ 0.9820/23...Signalling Trend Reversal?|
R: 0.9980-1.0000 / 1.1000
Aussie has dropped further breaking below its important 0.9980 Support level during the day. 0.9745 (21-Month-MA) and 0.9656 (100-Week-MA) are the next significant Support levels available. Now the pair needs to see a strong rise past 1.0000 to ease the downside pressue. A strong close below 1.000 could signal the reversal of the strong uptrend since Mar-09. The 100-Week-MA (0.9656) is now the last hope to hold the Aussie up going forward.