|USD-CHF @ 0.9553/56...Can rise to 0.9600|
R: 0.9580-600 / 0.9700-15
Dollar-Swiss failed to sustain the break below 0.9500 seen during the day and it has bounced back sharply above 0.9500 once again. The overall bullish view remains intact. A further rise to 0.9600 looks likely while above 0.9500. We need to see a strong rise past 0.9600 for the upmove to extend further. A strong break above 0.9600 can take the pair further up towards 0.9700-15. We will have to wait and see whether 0.9600 holds or breaks.
We exited the Short position entered at 0.9468 with a loss of 42 pips.
|GBP-USD @ 1.5371/74...Can fall to 1.5150-00|
R: 1.5475-5500 / 1.5575-600 / 1.5650
Cable has come off sharply from the day's high of 1.5487. Failure to rise past 1.5500 yesterday and a sharp pull back from just below 1.5500 today keeps the pair pressured on the downside and leaves high chances of seeing a downside break below its 1.5350-5800 sideways range. Our broader bearish view remains intact and as we had mentioned in our weekly view, a fall to 1.5150-00 is now on the cards.
We exited the Long position entered at 1.5478 with a loss of 45 pips.
Limit Sell Order:
|AUD-USD @ 1.0267/70...Can dip to 1.0200|
R: 1.0300-20 / 1.0380-400
Aussie failed to see a strong rise past 1.0300 during the day and it has come off from the day's high of 1.0328. A test of the Support in 1.0240-30 region looks likely now and we even see a good chance of a break below this Support region which can pull it further down towards 1.0200 or even 1.0150. We will have to wait and see what happens.