R: 1.00 / 1.0050-75 / 1.0130
S: 0.9980 / 0.9950-30 / 0.9875-50
Swiss is continuing to trade in a very narrow range in which it has been trading since the US session yesterday. As no significant move on either side was not see during the day also, our view continue to remain the same on the pair. The broader picture continue to remain bearish and we expect the Resistance in 1.0050-75 region continue to hold. On the downside a strong break below the immediate Support at 0.9980 might see 0.9875-50 on the downside over the next few days.
Limit Sell Order:
Sell USD 10K at 1.0060, SL 1.0130, TP Open
R: 1.6682-90 / 1.6739 / 1.6898 /
S: 1.6630-25 / 1.6594-79 / 1.6535-07
Cable has risen beyond the trendline Resistance that we have been eyeing. The trend has been bearish since mid-November with sudden surprising surges in between. If this is one of those spurts, then the immediate Resistance at 1.6680-90 would be honoured bringing the pair down towards 1.64 during the next couple of days. If in case this Resistance breaks, then we would have to look towards 1.68-->1.69 over the next few days.
GBP 10K Short at 1.6648, SL 1.6725, TP Open
R: 0.9290 / 0.9330 / 0.9380-0.9400
S: 0.9220 / 0.9180 / 0.9130
The immediate Resistance at 0.9290 mentioned earlier is resisting Aussie to rise further and the pair is trading in the range of 0.9240-90. If it gains upside momentum, a strong break above this Resistance at 0.9290 might see a rise towards 0.9330-50 in the coming sessions. On the other hand if this Resistance holds, we might see a downmove towards 0.9220-00. As mentioned earlier, Support is seen in the broad 0.9220-0.9180. As long as this Support region holds, we might expect the uptrend to continue ans see a rise once again towards 0.9400 or even higher. However, a break below 0.9180 would once again bring back the threat of Trend reversal.