|USD-CHF @ 0.9660/63...Bearish|
R: 0.9680-700 / 0.9800 / 0.9860
The pair broke below its support of 0.9700-680 and is now aiming for 0.9610, we could not enter a short position as the market moved quite swiftly and so we have entered Short at the market at lower levels. It has broken the neck line of the head and shoulder pattern on the daily charts the target of which is 0.9500. Every up move is expected to face resistance in the 0.9680-700 region.
Limit Sell Order
|GBP-USD @ 1.5769/73...Ranged but looks bullish|
|R: 0.9765 / 0.9890|
S: 0.9690 / 0.9650 / 0.9600The pair did try to break the 1.5400-1.5765 range on the upside making a high of 1.5779 but failed to sustain these levels and slipped below 1.5765. Euro looks bullish after the conformation of the bullish head and shoulder pattern and if it manages to move towards 1.2465 we might see cable making one more attempt to move past 1.5765. On the down side it has good support at 1.5740 which if broken can take the pair towards 1.5660-50 in the near term. We would be looking to go long on the pair if such a dip comes.
|AUD-USD @ 1.0497/500...Bearish|
|R: 1.0520-35 / 1.0600-20|
S: 1.0435-20 / 1.0375 The pair did try to bounce back during the day but could not sustain above 1.0500 levels and now looks good to slip back to its 200 EMA on the 4 hourly charts which is currently at 1.0410 . We maintain our view that there are good chances that the pair has made a top in the daily charts in the medium term. Its next support is seen at 1.0430-00 which is a Fibonacci on the daily and the 200 EMA support on the four hourly charts. The upside seems capped at 1.0520-35 which has prove to be a good intraday resistance a break of which can take the pair towards 1.0600 levels but does look unlikely.
AUD 10K Short at 1.0497, SL 1.0530, TP 1.0420