R: 1.1473 / 1.1511-29 / 1.1607-18

S: 1.1380 / 1.1275 / 1.1200

The bull-breakout from the multi-week ascending triangle mentioned in the morning is valid, especially while the Support at 1.1380 holds. But, follow-through purchases have to kick in for the market to rise further in the near term. If the immediate Support at 1.1380 breaks, we could see a fall towards 1.1275 before fresh buying comes in.


USD 10K Long at 1.1459, SL 1.1380, TP Open. As soon as the market 1.1525 hereafter, bring SL up to 1.1459

Cable GBP-USD @ 1.3762/64...Holding cautious Short

R: 1.3869 / 1.3910 / 1.3993-4025

S: 1.3715 / 1.3682

There is strong intra-day Resistance at 1.3900. While that holds, there are decent chances of a further fall towards 1.3682, the 2001 Low. Can we see a further decline beyond that. Perhaps so, but it might take some time. It might not be correct to assume a quick and easy break of an 8-year chart point.

If and while the Support at 1.3682 holds, we could see a short-covering rally towards 1.40, or higher. However, if the Support breaks easily, then it could be curtains for the Cable.


GBP 10K Short at 1.3778, SL 1.3925 (down from 1.3977), TP 1.3720 (up from 1.3700)

Aussie AUD-USD @ 0.6484/86...Bearishish below 0.6520

R: 0.6520 / 0.6580

S: 0.6455-45 / 0.6425

The Aussie continues to look bearish, perhaps more so than the Pound or the Swissy and has decent chances of testing 0.6425, the projected Max Low for the Day. The Resistance to watch is 0.6520. If this Resistance breaks, a short-covering rally to 0.6580 may be seen.