"Swiss"USD-CHF @ 0.8017/20...Bearish

R: 0.8030 / 0.8050-80
S: 0.8000 / 0.7900-7880

Although the psychological Support at 0.8000 is holding well, Dollar-Swiss is not gaining upside momentum for a strong bounce back. The overall picture remains bearish and a strong break below 0.8000 might take it further down towards 0.7900-7880 in the coming sessions. Immediate Resistance is seen at 0.8030 and we expect it hold in the US session today. A break above it might increase the chances of further rise to 0.8050-80.
USD 10K Short at 0.8015, SL 0.8055, TP 0.7935

"Cable"GBP-USD @ 1.6358/61...Holding Short.

R: 1.6400 / 1.6435-50
S: 1.6320-00 / 1.6220-00

Cable has fallen sharply breaking below 1.6400. Technically the Resistance in 1.6435-50 which we had been mentioning for some time has held very well. The downmove can extend further to 1.6320-00 in the coming sessions. There are chances of seeing a bounce from 1.6320-00. However, a break below 1.6320-00 would trigger further downmove to 1.6220-00. Overall the pair is expected to remain pressured on the downside while below 1.6400.
GBP 10K Short at 1.6435, TSL 1.6405 (down from 1.6420), TP 1.6220
As soon as the market trades 1.6330 bring TSL down to 1.6380 and as soon as the market trades 1.6310 bring TSL further down to 1.6335

"Aussie"AUD-USD @ 1.1040/43...Outlook mixed. Stay away.

R: 1.1080 / 1.1100-20
S: 1.1000-0975 / 1.0920-00

Aussie is coming off from the day's high of 1.1080. Although the upside is still open for a rise to 1.1100-20, the immediate outlook is mixed as the pair has equal chances of moving on either side from current levels. If it continues to trade lower we might see it moving further down towards 1.1000-0975 in the coming sessions. It will have to be seen whether the pair manages to bounce from current levels itself or it dips to 1.1000-0975 before further rise. We are staying out of the market.


Happy Trading!