USD-CHF @ 1.0945/48...May fall

R: 1.0988 / 1.1025S: 1.0759 / 1.0700 / 1.0600-570

Dollar-Swiss is trading near the days high of 1.0953. We are taking a profit of 160 pips on our long entered at 1.0785 on the pair at current levels. The pair is trading very near to the 50% retracement level (1.0940) of the fall from 1.1965 (12-Mar-2009) to 0.9916 (26-Nov-2009) and we may see the pair go down from here towards 1.0850-00 in the coming sessions over today and tomorow, before a fresh rise towards 1.10 later in the week. Though, an immediate rise may take the pair towards 1.10, BUT we see more chances of a dip followed by a rise over the next couple of days.

Exit Trade:Exit at Current Levels, the USD 10K Long entered at 1.0785

Limit Buy Order:Buy USD 10K at 1.0750, SL 1.0660, TP Open

GBP-USD @ 1.5173/76...Support at 1.5150-30 region

R: 1.5220-40 / 1.5280-1.53 / 1.54S: 1.5150-30 / 1.51 / 1.5045

Cable fell breaking below 1.52 and recorded a low of 1.5167 in the European session today. As mentioned earlier, 1.5150-30 is a very significant Support region which might be tested in the US session today. We expect this Support region (1.5150-30) to hold and might see a bounce back once again towards 1.54-55 in the coming sessions/days. Also, the pair is expected to retain the range 1.51-55 in which it has been trading for sometime and a dip towards 1.5150-30 can be considered as a good opportunity to buy.

Limit Buy Order:Buy GBP 10K at 1.5150, SL 1.5070, TP 1.5460

AUD-USD @ 1.9154/57...Support at 0.9150-35 region

R: 0.9210 / 0.9240-70 / 0.9340S: 0.9150-35 / 0.9100 / 0.9080-60

Aussie has broken below the Support at 0.9200 which we expected to hold. Immediate Support is seen at 0.9150-35 region which is the lower end of the range 0.9130-0.9350 in which it has been trading over the last several days. We expect this Support region (0.9150-35) to hold and see a bounce back once again towards 0.9250-0.9300. However, a strong break below 0.9135 might increase the chances of further dip towards 0.9080-60 .Holding Long:AUD 10K Long at 0.9210, SL 0.9090, TP Open

Limit Buy Order:Buy AUD 10K at 0.9150, SL 0.9060, TP Open

Happy Trading!