USD-CHF @ 1.0547/50...May fall towards 1.0400
R: 1.0561 / 1.0622 / 1.0699 S: 1.0486 / 1.0400
Dollar-Swiss went up to touch a high of 1.0570 in the European session today. The pair is (almost) retaining its range (1.0480-560) and is currently trading below 1.0550. We see 60% chances of the pair coming towards 1.0400 in the US session today. However, the markets may continue to be ranged.
Holding: USD 10K Short at 1.0520, SL 1.0580, TP Open
GBP-USD @ 1.5110/13...Bullish
R: 1.5310 / 1.5350-70 / 1.5470 S: 1.5094 / 1.5050-20 / 1.4983
We continue to hold the same view on the pair which we had in the morning.
The pair has been ranged from the past few sessions, but is taking Support near the 1.51 figure. While above 1.5100, we may see the pair move up towards 1.5200-50 in the coming sessions today. However, a deep fall below 1.5100 may bring it towards 1.5050-00 in the coming sessions, though we see less chances of this fall.
Overall, we are bullish on the pair with high chances of going up towards 1.5400 in the next week.
Holding: GBP 10K Long at 1.5151, SL 1.5060, TP Open
AUD-USD @ 0.8747/50...Mixed
R: 0.8811 / 0.8870-80 / 0.8975 S: 0.8640-20 / 0.8580 / 0.8540-20
Aussie moved to touch a low of 0.8729 in the European session today. The pair is currently trading just below the 55 Week MA (0.8789) Resistance but has inched above the Trendline Resistance on the weekly charts and the 200 MA on the 8-hourly chatrs. So, we will need to wait and watch if the pair breaks strongly above all the Resistances in the the coming sessions today or tests them and come down. We see 50-50 chances of a move either ways. Happy Trading!