USD-CHF @ 1.0336/40...Might test the significant Support at 1.0280
R: 1.0380-90 / 1.0435 / 1.0480-1.0500 S: 1.0320 / 1.0280 / 1.0220-00
Swiss has fallen from the high of 1.0419 and is now trading lower just above the Significant Support region 1.0320-1.0280. As mentioned earlier, a break below 1.0280 might pull it further down towards 1.0220-00 in the US session today. On the other hand if this Support region (1.0320-1.0280) continue to hold, we might see a rise once again towards 1.0430-50 in the coming sessions. Remember, the Support at 1.0280 held all through last week. We will have to wait and watch whether this Support will continue to hold or not.
GBP-USD @ 1.6225/29...Broad Resistance zone 1.6270-1.6353
R: 1.6270-81 / 1.6306-20 / 1.6353 S: 1.6152-46 / 1.6120 / 1.6062
The Cable has risen during the day. The Support at 1.6078-37 has held. The Projected Max High at 1.6230 has been tested and the pair has come down a bit thereafter. It has broken above the 21-DMA and is likely to test the Resistance zone 1.6270-1.6353 on the weekly chart. This region contains the 8-, 13- and 21-week MA. A rise above the Max High may test the abovementioned Resistance zone. We do not see it breaking above this zone over the next few days.
AUD-USD @ 0.9061/65...Might rise towards 0.9100-30
R: 0.9100-30 / 0.9180 / 0.9280 S: 0.9010-00 / 0.8965 / 0.8920-0.8890 /
Aussie has risen during the day breaking above the Resistance at 0.9030. As mentioned earlier, we might see further rise towards 0.9100-30 in the coming sessions. A break above 0.9130 might see 0.9180 on the upside. Any sharp downmove is not looking likely now. Significant Support is seen in 0.8920-0.8890 region which we expect to hold if any sharp downmove is seen in the US session today.
Limit Buy Order: Buy AUD 10K at 0.8920, SL 0.8830, TP Open
Forex Trader Library Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.