|USD-CHF @ 1.0614/17...Resistance at 1.0630|
|R: 1.0630 / 1.0680-0700 / 1.0750|
S: 1.0550 / 1.0520-00 / 1.0450
The Resistance at 1.0630 mentioned in the morning edition held during the day. However a sharp downmove was not seen during the day and Swiss is continuing to trade above 1.0600. As no siginificant move on either side was seen, our view on the pair remains the same. If it continues to trade above 1.0600 and gains further momentum on the upside, a break above 1.0630 might see a rise towards 1.0680-0700 in the US session. Note that the projected Max-High for the day is 1.0695. As mentioned earlier 1.0700 is a significant level to watch for on the upside as a strong break above 1.0700 was not seen last week. A strong break above 1.0700 might see a rise towards 1.0850 in the coming days.
However if the Resistance at 1.0630 contiues to hold in the US session, a break below 1.0600 might pull it down towards the significant Support region 1.0520-00. A strong break below 1.0500 might trigger a downmove towards 1.0300.
|GBP-USD @ 1.6220/23...Cautious. Might test the significant Support at 1.6150|
|R: 1.6257-67 / 1.6330-50 / 1.6400-20|
S: 1.6150 / 1.6020-00 / 1.5952
Cable contiued to trade lower and witnessed a break below 1.6200 during the day. We might expect it to test the Support at 1.6150 in the US session. As mentioned earlier 1.6150 is the significant level to watch for on the downside, a break below which might see a dip towards 1.6000. If the pair continues to remain weak, we see more chances of a break below 1.6150 and we still remain cautious on the pair.
Any strong upmove is not looking likely now. However a strong break above 1.6200 might see a rise towards 1.6330-50 in the US session. As mentioned earlier 1.6330-50 is the significant level to watch for on the upside.
|AUD-USD @ 0.8373/77...Immediate Support in the region 0.8360-30|
|R: 0.8400-10 / 0.8450-70 / 0.8567|
S: 0.8360-30 / 0.8280-60 / 0.8240
Aussie continued to trade below 0.8400 during the day. However a strong downmove was not and it is continuing to trade above the Support region 0.8360-30 mentioned earlier and we expect this Support region to hold in the US session also. Also note that the projected Max-Low for the day is 0.8330. However a break below 0.8330 might see a downmove towards 0.8280-60. On the upside a break and further strong upmove above 0.8400 might see a rise towards the Resistance region 0.8450-70
We took profit from the Long position entered at 1.6250.