USD-CHF @ 1.0390/95...Sell rally
R: 1.0400 / 1.0450-70 / 1.0510-30
S: 1.0335-20 / 1.0300-0275 / 1.0220-00
Swiss has risen during the day and is now trading just below 1.0400. As mentioned earlier if the current upside momentum continues a break above 1.0400 might see this corrective rally continuing towards 1.0450-70 in the coming sessions/days. However, the overall trend continues to remain bearish and we might expect a pull back from 1.0450-70.On the downside Support is seen in the region 1.0285-70, a break below which might pull it down towards 1.0220-00.
Limit Sell Order:
Sell USD 10K at 1.0470, SL 1.0530, TP Open
As soon as the market trades 1.0400 after entry bring the SL down to 1.0455
GBP-USD @ 0.5978/81...Might rise towards 1.61
R: 1.6120-25 / 1.6179 / 1.6270-80
S: 1.5890 / 1.5856 / 1.5800
Cable has risen sharply during the day. As metioned earlier, if the current upside momentum continues, we might see a rise towards 1.61 or even 1.62 in the coming sessions/days. However, the overall picture continues remain bearish and we expect a pull back from 1.61-62 once again towards 1.5900-5850.
AUD-USD @ 0.8722/26...Significant Resistance in the region 0.8750-75
R: 0.8750-75 / 0.8830 / 0.8890-0.8900
S: 0.8700-0.8680 / 0.8655-40 / 0.8615-00
The Resistance region 0.8750-75 held and Aussie fell during the day. However it has risen now slightly from the low of 0.8710. Our view continues to remain the same on the pair. On the upside a strong break above the significant Resistance region 0.8750-75 might see a rise towards 0.8900 in the coming sessions/days. On the downside a break below 0.8700 might pull it down towards 0.8650-30.