|USD-CHF @ 0.8966/69...Might fall before further rise|
R: 0.9000-30 / 0.9080-9100 / 0.9125
Dollar-Swiss is not gaining strength for a strong rise past 0.9000. Some Support is seen at 0.8950 and a strong break below it can trigger a fall to 0.8850-00. As mentioned in our Morning comments, 0.8850-00 is a strong Support region we see on the downside and a fresh rally can be seen from this Support region. As such we will be looking to enter long on dips. On the upside the pair needs to see a strong rise past 0.9000-30 Resistance region for an upmove to 0.9100+ levels. As of now the immediate outlook is bearish for a fall to 0.8850-00.
EUR-CHF 10K Long at 1.2365, SL 1.2275, TP 1.2520
|GBP-USD @ 1.5783/86...Might rise to 1.5880-5900|
R: 1.5800 / 1.5880-5900
Cable is continuing to trade well above the 200-MA (1.5731) on the 4-hr chart and is keeping up the chances of a break above 1.5800. On the upside 1.5880-5900 is an important Resistance region seen above 1.5800 which we expect to hold. As such the upmove on a break above 1.5800 could be restricted to 1.5880-5900 and we will be looking to sell on rallies to this Resistance region. On the downside, the pair now needs to see a strong break below 1.5700 to bring back the downside pressure on the pair.
Limit Sell Order:
|AUD-USD @ 1.0255/58...Might rise to 1.0300+ levels|
R: 1.0300-20 / 1.0370-0400
Aussie is retianing its strength and is continuing to trade above 1.0200 thereby keeping up our bullish view intact for a rise to 1.0300-80. As mentioned in our morning comments we see strong Resistance in 1.0300-0380 region and a fresh pull back can be seen from this 1.0300-80 Resistance region. Shorts can be taken on rallies to 1.0300-80 Resistance region.
We booked a profit of 52 pips from the Long position entered at 1.0208.
Limit Sell Order: