R: 1.0190-0210 / 1.0240-50 / 1.0280
S: 1.0100 / 1.0050-30 / 0.9980
Swiss continued to trade lower during the day and has broken below 1.0150 thereby keeping up the overall downtrend intact. As mentioned earlier we might see a downmove towards 1.0100-1.0050 in the coming sessions/days. Any sharp upmove is not looking likely now. Resistance is seen in the region 1.0190-0210 which we expect to hold if any sharp rise is seen in the US session today.
Limit Sell Order:
Sell USD 10K at 1.0185, SL 1.0265, TP Open
R: 1.6670-6700 / 1.6750
S: 1.6634 / 1.6590 / 1.6550
Cable has risen from 1.6580 during the day and is testing the Resistance at 1.6670. Once broken comprehensively rise past 1.6850 would be the next target. Today, being the last trading day of the week, the pair may decided to consolidate near this Resistance. Week close above 1.67 would bring up 1.6850 very soon and possibly 1.70+ thereafter.
The Trend Support mentioned in the morning has continued to hold and a break is not foreseen immediately. This Support is at 1.6545. The Projected Max High and Low for the day is at 1.6750 and 1.6505 respectively.
Limit Buy Order:
Buy GBP 10K at 1.6550, SL 1.6490, TP Open
R: 0.9320 / 0.9370-80 / 0.9470
S: 0.9270 / 0.9230-00 / 0.9180
Aussie continues to trade higher and is looking strong on its upmove. The overall bullish sentiment is intact and if the current strength on its upmove continues, we might see a rise once again towards 0.9350-70 in the coming sessions/days. A strong break above 0.9370 might target 0.9500 in the coming days/weeks. Any sharp downmove is not looking likely now and we expect the Support region 0.9230-00 to hold in the US session today. Remember 0.9197 is the 38.2% retracement level of the recent rise from 0.8916 (03-Nov) to 0.9370 (12-Nov).Happy Trading!