USD-CHF @ 1.0818/22...Support at 1.0800-1.0790 holding
R: 1.0800-1.0790 / 1.0750 / 1.0720-00 S: 1.0850 / 1.0890-0910 / 1.0950
The Support at 1.0800-1.0790 is continuing to hold. Failure to see a strong break below 1.08 is keeping up the chances of a rise towards 1.0950-1.1000 in the coming days. We expect this Support at 1.0800-1.0790 region to continue to hold and might see a bounce back in the coming sessions.On the other hand a strong break below 1.0800-1.0790 might 1.0720-00.
Holding: USD 10K Long at 1.0823, SL 1.0740 (up from 1.0690), TP 1.10
GBP-USD @ 1.4993/96...Might test the Support at 1.4945
R: 1.5080-1.51 / 1.5150 S: 1.50-4980 / 1.4945 / 1.4850
Cable witnessed a break below 1.50 in the European session today. However, it has bounced back once again above 1.50 from the low of 1.4980. We might see further downmove towards 1.4945 in the coming sessions. 1.4945 is a very important Resistance-turned-Support level seen on the downside which might hold for some time. A strong break below 1.4945 might see further dip towards 1.4850. Any sharp upmove is not looking likely now. However, if it continues to trade above 1.50 we might see a rise once again towards 1.5100-30. Note 1.5150 is a significant Trendline Resistance seen on the weekly candles which is expected to hold.
Limit Sell Order: Sell GBP 10K at 1.5120, SL 1.5210, TP Open
AUD-USD @ 0.8496/500...Might dip towards 0.8400-0.8350
R: 0.8580-0.8600 / 0.8660 / 0.8700 S: 0.8475 / 0.8400 / 0.8350
After rising and recording a high of 0.8566, Aussie has come off once again and is retaining the overall downside pressure. As mentioned earlier, we might see further dip towards 0.8400-0.8350 in the coming sessions. Any sharp upmove is not looking likely as the pair is not showing much strength on its upmove and is very strong in its current downmove. Resistance is seen at 0.8570-0.8600 which is expected to hold incase a sharp upmove is seen. Overall we expect the pair to continue to trade below 0.86.Happy Trading!