USD-CHF @ 1.0335/38...Might test the Resistance region 1.0350-70
R: 1.0350-70 / 1.0420 / 1.0450-65
S: 1.0300-0280 / 1.0234 / 1.0110
After recording a low of 1.0284 during the day, Swiss has risen and is now trading above 1.0300. As mentioned earlier Resistance is seen in the region 1.0350-70 and we expect this Resistance region to hold in the US session and might see a pull back once again towards 1.0300-0280 as the overall sentiment continues to remain bearish. Note that the projected Max-High for the day is 1.0376. However a break above 1.0370, which is not looking likely, might take it up towards 1.0400.Limit Sell Order:
Sell USD 10K at 1.0350, SL 1.0425, TP 1.0220
GBP-USD @ 1.6517/21...Potential bear flag
R: 1.6580 / 1.6618 / 1.6736
S: 1.6505-6486 / 1.6463-55 / 1.6424-15
There's possibility of a bearish flag on the 8H chart which could bring it down once again towards the 55-DMA at 1.6451. A break of 55-DMA which is vulnerable given that it is flattening, might present a strong case for the S-H-S confirmation on the weekly chart. The S-H-S might bring the pair down towards 1.62.There's immediate Resistance at 1.6580, which is likely to hold.
AUD-USD @ 0.8721/25...Support in the region 0.8670-50
R: 0.8818-25 / 0.8991 / 0.8950
S: 0.8670-50 / 0.8580-60 / 0.8525
Aussie has fallen from the day's high of 0.8775. As mentioned earlier Support is seen in the region 0.8670-50 and we expect this Support region to hold in the US session if the pair continues to trade lower. Note that the projected Max-Low for the day is 0.8670. The oveall sentiment continues to remain bullish and we can expect the upmove to after testing the Support region 0.8670-50.Happy Trading!