"Swiss"USD-CHF @ 0.8030/33..Bearish

R: 0.8050-70 / 0.8120
S: 0.8000 / 0.7900-7880

Dollar-Swiss is continuing to trade lower. Although the psychological Support level of 0.8000 is holding well, teh pair is not gaining upside momentum for a strong bouce back. As such the overall bearish outlook remains intact and with the sharp fall yesterday, the door is now open for further fall to 0.7900-7880. On the upside Resistance is seen in 0.8550-70 region and an immediate break above this Resistance region is not looking likely.

 

Limit Sell Order:
Sell USD 10K at 0.8050, SL 0.8120, TP 0.7920

"Cable"GBP-USD @ 1.6403/36...Important Resistance in 1.6400-50 region

R: 1.6400 / 1.6450
S: 1.6320-00 / 1.6260 / 1.6220-00

Cable has risen well from the day's low of 1.6319 and is now trading just above 1.6400. As mentioned in our Morning comments, 1.6400-50 is an important Resistance region formed by the earlier up Trendline (Trendline joining teh low of May-10 and Dec-10). As such we expect this Resistance region to hold and a pull back is possible. Such a pull back from 1.6400-50 region will also confirm the Trend reversal on the pair. This pull back can take the pair down to 1.6200-6100.

 

Limit Sell Order:
Sell GBP 10K at 1.6435, SL 1.6475, TP 1.6220
As soon as the market trades 1.6370 after entry trail SL to 1.6425

"Aussie"AUD-USD @ 1.0959/62...Bullish

R: 1.1100-20
S: 1.0875 / 1.0800

Aussie is retaining its strength and has risen further during the day. Our broader bullish view remains intact and Aussie is heading towards 1.1100-20 as expected. Support is seen at 1.0875 and the strong Support is seen at 1.0800. Any sharp downmove is not looking likely and we expect the pair to continue to trade higher.
Limit Buy Order:
Buy AUD 10K at 1.0920, SL 1.0860, TP 1.1100
Buy AUD 10K at 1.0880, SL 1.0830, SL 1.1100

 

Happy Trading!