"Swiss"USD-CHF @ 0.7713/16...Resistance at 0.7800 holding

R: 0.7800 / 0.7900
S: 0.7700 / 0.7600

Dollar-Swiss witnessed a sharp rise during the day as the SNB cut the interest rate. However, the pair has found Resistance near 0.7800 and is coming off from its high of 0.7787. A break below 0.7700 might trigger a fall once again to 0.7600. But the dips can see buyers coming in as the SNB has warned that it will intereve whenever necessary. Broadly we might expect a range of 0.7600-0.7800 for some time.

"Cable"GBP-USD @ 1.6390/92...Immediate Resistance at 1.6400

R: 1.6400 / 1.6450-75
S: 1.6330-00 / 1.6250

Cable has risen sharply breaking above its Resistance at 1.6330 and the pair is now trading just below 1.6400. A break above 1.6400 might take it further up towards 1.6450-75 which is a very significant Resistance reigon to be watched on the downside. A pull back is possible from this 1.6450-75 Resistance region. We will have to wait and see what happens. Failure to break above the immediate Resistance at 1.6400 might take down once againt towards 1.6330-00 in the uS session today.

 

We got stopped out of our Short position entered at 1.6330 losing 35 pips.

"Aussie"AUD-USD @ 1.0747/50...Bearish while below 1.0800

R: 1.0800 / 1.0850
S: 1.0700-0690 / 1.0627

Aussie is not gaining strength to extend its upmove after the sharp rise to 1.0785 during the day. Important to note is that the pair is now getting Resistance near 1.0800 which was the important Support level earlier. As mentioned in the morning, while below 1.0800, the pair is expected to remain pressured on the downside and a test of the 21-Week-MA (currently at 1.0627) looks likely in the coming sessions. Only a strong break above 1.0800 will ease the downside pressure.

 

We exited the Short position entered at 1.0720 with a loss of 20 pips.

Happy Trading!