|USD-CHF @ 0.9314/17...Watch Resistance in 0.9330-50 region|
R: 0.9330-50 / 0.9400
Dollar-Swiss fell during the day as expected but the extent of fall was restricted to 0.9241 a as against our expectation of a fall to 0.9200 and it has bounced back sharply above 0.9300 from its low. Although the Resistance in 0.9330-50 region is holding as of now, the pair is not showing much downside momentum. We will have to see whether it can rise past strongly above 0.9350 now or not. Failure to rise past 0.9350 will keep the pair pressured on the downside the threat of seeing 0.9200 will still be alive.We booked a profit of 5 pips from the Short position entered at 0.9285.
|GBP-USD @ 1.5696/99...Retaining the range|
R: 1.5700-20 / 1.5780 / 1.5820
Cable is retaining its 1.5400-5780 sideways range. The range Resistance at 1.5780 has held well and a pull back has been seen as expected. It is now bouncing back from its low of 1.5675. It needs to be seen whether it can bounce back strongly above 1.5700 now. Support is seen at 1.5650 and a break below it can trigger further fall to 1.5600-5550 in the coming sessions.
GBP 10K Short at 1.5760, TSL 1.5730 (down from 1.5745), TP 1.5580
|AUD-USD @ 1.0119/22...Watch Support at 1.0100|
R: 1.0200-20 / 1.0250 / 1.0300
Aussie rose further towards 1.0220 as we had expected, but has come off sharply from its high of 1.0119 now. SUpport is seen near current levels at 1.0100 and a break below it can take it further down towards 1.0050-00 in the coming sessions. The outlook is not clear. We see 50-50 chances of this Support to hold/break. Having said this we would just stay away and watch the market.Happy Trading!