R: 1.0280-0300 / 1.0330-50 / 1.0390-0400
S: 1.0230-00 / 1.0160-50 / 1.0130-10
The Resistance region 1.0280-0300 continue to hold. Immediate Support is seen at 1.0230. A break below this Support (1.0230) and a further downmove breaking below 1.0200 would signal an end to the recent corrective rally and the overall downtrend would resume which might see a dip towards 1.0130-00 in the coming sessions/days.
On the other hand if 1.0230-00 holds, we might see a rise once again towards the Resistance region 1.0280-0300 in the US session which we expect to hold. However, a break above 1.0300 might see a rise towards 1.0330-50.
R: 1.6480 / 1.6511-25 / 1.6572
S: 1.6427 / 1.6379-53 / 1.6336-15
Cable has risen during the day and is testing the Resistance at 1.6480 mentioned in the morning. A rise beyond 1.6480 might find stiffer Resistance at 1.6525. Whereas the honour of 1.6480 is likely to bring the pair down towards the lower end of the range during the US session which is at 1.6300. A break of 1.6525 might have to be reviewed and it might mean the end of the correction to the uptrend which began from 1.6693. But there are good chances of the above Resistances being honoured.
GBP 10K Short at 1.6470, SL 1.6550, TP 1.6200
As soon as market trades 1.6420, bring SL to 1.6470 and as soon as the market trades 1.6350 thereafter, bring SL to 1.6450.
R: 0.9066 / 0.9120-30 / 0.9170-85
S: 0.9020 / 0.8935 / 0.8870
Aussie continued to trade higher and recorded a high of 0.9058 during the day. The 21-DMA (0.9066) is now acting as a Support-turned-Resistance. If it holds, we might see a downmove once again towards 0.8950-30 in the coming sessions.
On the other hand, if the current strength on the upmove continues, a strong break above the 21-DMA might see a rise towards 0.9120 in the US session.
Limit Buy Order:
Buy AUD 10K at 0.8880, SL 0.8790, TP Open