"Swiss"USD-CHF @ 0.7421/24...Might test 0.7500-20

R: 0.7500-20 / 0.7600
S: 0.7300 / 0.7200

Dollar-Swiss sustained above 0.7300 and has risen towards 0.7400 as expected. As we had mentioned in our morning comments, the upmove can extend further towards 0.7500-20 in the coming sessisons. Resistance is seen in 0.7500-20 region and a pull back is possible from this 0.7500-20 Resistance region. On the downside 0.7300 is expected to act as a Resistance-turned-Support level.

"Cable"GBP-USD @ 1.6148/52...Bearish

R: 1.6200 / 1.6250-75 / 1.6330
S: 1.6120-00 / 1.6086 / 1.6000

Cable failed to see a strong break above 1.6200 and has come off from its high of 1.6207. Failure to see a strong rise past 1.6200 is retaining the downside pressure and is keeping alive the chaces of testing 1.6000 or even 1.5900 on the downside. Overall the pair is looking bearish and it has strong Resistance in 1.6250-75 region. As mentioned in our Morning comments, 1.6086 is the significant 200-DMA Support level and a break below it would trigger further dip to 1.6000 or even 1.5900

"Aussie"AUD-USD @ 1.0206/09...Resistance at 1.0300 holding well

R: 1.0300 / 1.0400
S: 1.0120-00 / 0.9900

Aussie failed to see a strong break above 1.0300 and has come off during the day. Technically the 200-DMA is now acting as a good Resistance and is keeping the pair pressured on the downside. The overall bearish outlook remains intact and while below 1.0300 we might see a test of 1.0100 on the downside. In the bigger picture the downside is open for a fall to 0.9900-9800. On the upside if a break above 1.0300 is seen in the US session today, we might see a rise to 1.0400. A further rise above 1.0400 is not looking likely.

 

Limit Sell Order:
Sell AUD 10K at 1.0375, SL 1.0425, TP 1.0120
Sell AUD 10K at 1.0400, SL 1.0435, TP 0.9950

Happy Trading!