USD-CHF @ 1.1527/29...Support at 1.1500-1.1475 region
R: 1.1560 / 1.1595 / 1.1660 S:1.1500-1.1475 / 1.1460-30 / 1.14
Contrary to our expectation, Dollar-Swiss fell sharply in the European session today breaking below the Support region (1.1580-60) which we expected to hold. We exited our Long position during the process of this sharp fall and booked a profit of 10pips. Support is seen at 1.1500-1.1475 region which if broken in the US session today might see further down move towards 1.1450-00. However, if 1.15 holds, we might see a rise once again towards 1.16-17 in the coming sessions.
GBP-USD @ 1.4397/44...Retaining the range (1.4220-4520)
R: 1.4503 / 1.4526-40 / 1.4575S: 1.4370 / 1.43 / 1.4235
Cable is continuing to retain the range (1.4220-4520). Our view remains the same on the pair. A break out on either side of this range (1.4220-4520) would determine the further direction of move. However, the broader picture continues to remain bearish and we expect a break on the downside of this range and see further downmove towards 1.41-40 rather than a break on the upside.
Limit Sell Order:Sell GBP 10K at 1.4480, SL 1.4570, TP Open
AUD-USD @ 0.8308/11...Resistance at 0.8350
R: 0.8350 / 0.8395 / 0.8450S: 0.8230-00 / 0.8180 / 0.81
Aussie has bounced back and is now traiding just above 0.83. We got stopped out of our two short positions during the process of this bounce back thereby losing 110 pips. Resistance is seen at 0.8350. If it continues to trade higher a strong break above 0.8350 might increase the chances of further rise towards 0.85. On the othe hand if 0.8350 holds, we might see a pull back once again towards 0.82. The broader picture continues to remain bearish.