|USD-CHF @ 0.9045/48...Watch Resistance at 0.9080|
R: 0.9080 / 0.9120-30 / 0.9200
Dollar-Swiss has risen well as expected and is keeping up our bullish view intact. 0.9080 will be an important Resistance level to be watched on the upside and a strong rise past this Resistance will open doors for further rise to 0.9200-9300. As of now we are taking profit on the Long position entered at 0.8970. But we will be looking to enter Long again on dips. But we are not sure whether we will get sharp dips to enter Long once again.
Exit Trade (at the time of writing):
|GBP-USD @ 1.5960/63...Can dip further|
R: 1.6015 / 1.6070 / 1.6140
Cable fell sharply during the day and is now trading below 1.6000. The downmove could extend further. The 21-DMA Support is seen at 1.5932, break below this 21-DMA can trigger further to 1.5875-50 on the downside. Important to note is that the failure to rise past 200-DMA this time is now throwing in a threat of a Double-Top formation on the daily chart. This is something significant to be watched. Overall the immediate outlook is bearish for a test of 1.5930 or even 1.5875-50 on the downside.
|AUD-USD @ 1.0222/25...Might dip further|
R: 1.0280 / 1.0350 / 1.3400
Aussie fell sharply during the day to test 1.0200 on the downside as expected. The low recorded so far was 1.0206 and our Limit Buy order was missed by just one pip. With this sharp fall we see high chances of the downmove extending further to 1.0150-00. Having said this we are removing the Limit Buy Order placed in the morning. We will wait and watch the market for some time to take further trades in the pair. Overall the pair looks weak now and the downmove can extend further to 1.0150-00 in the coming sessions on strong break below 1.0180.