SwissUSD-CHF @ 0.9510/13...Buy dips

R: 0.9550-60 / 0.9600 / 0.9650
S: 0.9500-480 / 0.9450 / 0.9400-390

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:
Buy USD 10K at 0.9430, SL 0.9375, TP 0.9600
Buy USD 10K at 0.9405, SL 0.9365, TP Open

CableGBP-USD @ 1.5674/77...Buy dips

R: 1.5735-50 / 1.5800
S: 1.5615-00 / 1.5560-50

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.

AussieAUD-USD @ 1.0165/68...Resistance in 1.0170-90 reigon

R: 1.0170-90 / 1.0220
S: 1.0100 / 1.0000

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:
Sell AUD 10K at 1.0170, SL 1.0245, TP 1.0030
As soon as the market trades 1.0155 bring SL down to 1.0205 and as soon as the market trades 1.0135 there after trail SL to 1.0170

Happy Trading!