SwissUSD-CHF @ 0.9071/74...Support in 0.9000-8980 region holding well.

R: 0.9080-9100 / 0.9180 / 0.9225-50
S: 0.9000-0.8980 / 0.8900

Dollar-Swiss dipped during the day to test its 0.9000-8980 Support region as expected and has bounced back well once again. The outlook remains bullish for a test of its 0.9225-50 Resistance region. As mentioned in our Morning Comments we expect this 0.9225-50 Resistance to region to hold in its first test and a pull back to 0.9100 is possible from there. As such we will be looking to sell on rallies to 0.9225-50 Resistance region.

 

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

CableGBP-USD @ 1.5404/07...Bearish

R: 1.5450 / 1.5500
S: 1.5330-00 / 1.5200

Cable failed to see a strong rise past 1.5450 and has come off sharply from its high of 1.5472. The broader bearish outlook remains intact. A strong break below its 1.5330-00 Support region could trigger further fall to 1.5000 going forward. Any bounce back move if seen once again could be short lived and could continue to face Resistance in 1.5450-5500 region.

 

We got stopped out of the Short position entered at 1.5390 losing 65 pips.

Exit Trade (at the time of writing):
Exit at current level the GBP 10K Short entered at 1.5450
Limit Sell Order:
Sell GBP 10K at 1.5450, SL 1.5525, TP 1.5330
Sell GBP 10K at 1.5500, SL 1.5555, TP 1.5030

AussieAUD-USD @ 0.9710/14...Stay away.

R: 0.9870 / 1.000
S: 0.9655 / 0.9400

Aussie tested its important 100-Week-MA Support level (0.9655) and is bouncing back from its low of 0.9668. The pair is looking very bearish and there are high chances that it could break below this 100-Week-MA which could open doors for further fall to 0.9400 or even lower going forward. On the upside Resistance is seen near 0.9870 and the pair needs to see a strong break above this Resistance to ease the downside pressure slightly. we will have to wait and see how the market closes for the week today and we continue to stay out of the market.

 

Happy Trading!