SwissUSD-CHF @ 0.9120/23...Might test its Significant Resistance in 0.9225-50 region

R: 0.9200 / 0.9225-50
S: 0.9100-0.9070 / 0.9000

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:
Sell USD 10K at 0.9225, SL 0.9275, TP 0.9120

CableGBP-USD @ 1.5400/03...Might dip further to 1.5350

R: 1.5450 / 1.5500-20
S: 1.5380 / 1.5345

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 1.5450, SL 1.5520, TP Open
As soon as the market trades 1.5380 bring Trail SL 1.5435 and as soon as the market trades 1.5355 bring TSL further down to 1.5415


GBP 10K Short at 1.5414, SL 1.5505 , TP Open
As soon as the market trades 1.5380 bring SL down to 1.5430 and as soon as the market trades 1.5360 trail SL to 1.5405

AussieAUD-USD @ 0.9820/23...Signalling Trend Reversal?

R: 0.9980-1.0000 / 1.1000
S: 0.9745 / 0.9656

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.


Happy Trading!