USD-CHF @ 0.7789/91...Overall range 0.76-80
R: 0.7827-57 / 0.7924 / 0.7970
S: 0.7740 / 0.7715-03
There's a slight dip since the last update. The overall view is that the market could be ranged between 0.76 and 0.80 for some days. Within that, there is Support at 0.7740 and 0.7700 for today. Buying could well be seen near 0.7740-40 as well. If so, a rally towards 0.79 might follow. In case of a break below 0.7700, however, there would be chances of a fall towards 0.76.One can consider buying on a dip to 0.7740-20 or into a bounce from there, with a Stop LOss below 0.77.
GBP-USD @ 1.6380/85...Sell on rally
R: 1.6410 / 1.6470-80 / 1.6533
S: 1.6312-6292 / 1.6250 / 1.6178
In the last update we had pointed out Resistance in the 1.6470-6500 region. For the moment, the market appears to be ranged between 1.6325-6400. In case of a rise past 1.6400, a further upmove towards 1.6470-6500 could be seen. That might be a good level to take Short positions in the Pound for an eventual fall towards 1.6250.Limit Sell Order:
Sell GBP 10K at 1.6468, SL 1.6545, TP 1.6250
Sell GBP 20K at 1.6525, SL 1.6545, TP 1.6250
AUD-USD @ 1.0423/26...Watch Support at 1.0380
R: 1.0455 / 1.0509-17 / 1.0555-70
S: 1.0403-0380 / 1.0346 / 1.0290
Important intra-day Support seen at 1.0403-0380. Given that the important Resistance near 1.05 has already been tested, there can be chances of a break below 1.0380, which could bring the Aussie down towards 1.0350-00. The 200-day MA comes in at 1.0300. So, that could provide a Support.Overall, we do not have any immediate trade idea. Our current trade ideas are a little far off from the current market levels. Still, here they are:
1) Sell at 1.0570, SL 1.0660, TP 1.0420
2) Sell at 1.0610, SL 1.0660, TP Open.