|USD-CHF @ 0.9510/13...Buy dips|
R: 0.9550-60 / 0.9600 / 0.9650
The 55-MA on the 4-hr chart (currently at 0.9554) is restricting the Dollar-Swiss from further rise. A test of the immediate Support in 0.9500-480 looks likely. Also the downmove can extend further to 0.9450 or even 0.9400. But a further break below 0.9400 might not be that easy as 0.9400 is the 50% Fibonacci Retracement level of the rise from 0.9042 (May-12) to 0.9770 (Jun-12). Having said this we will be looking to Buy once again on dips to 0.9450-00.
We booked a profit of 55 pips from the Long position entered at 0.9460.
Limit Buy Order:
|GBP-USD @ 1.5674/77...Buy dips|
R: 1.5735-50 / 1.5800
Cable dipped to 1.5615 and has risen back very well from there. The pair has very good Support near 1.5600 and while above 1.5600, we see good chances of a rise to 1.5750- or even 1.5800 in the coming sessions. The downside could be limited. Even a break below 1.5600 would not turn the picture bearish as there is the 21-DMA Support currently at 1.5557. Having said this if we see a dip once again to 1.5600, we will be looking to go Long once again.
We got stopped out of the Long position entered at 1.5674 losing 34 pips.
|AUD-USD @ 1.0165/68...Resistance in 1.0170-90 reigon|
R: 1.0170-90 / 1.0220
As expected the Aussie has risen to test its 1.0170-90 Resistance region. We expect this Resistance region to hold and a pull back to 1.0100 is possible from here. The pull back can extend further to parity cannot be ruled out. A break below 1.0100 will trigger this fall.Limit Sell Order: