Trading Ideas on USD/CHF, GBP/USD and AUD/USD

R: 0.9220-45 / 0.9372 / 0.9450 S: 0.9100-9080 / 0.9040 / 0.9000

Dollar-Swiss was ranged between 0.9090 on the downside and 0.9220 on the upside last week. The outlook is mixed. 0.9245 will be an important Resistance level to be watched which needs to be broken for the pair to bring in the bulls. A strong break above 0.9245 can take the pair up to 0.9450. Note that there is the 100-Week-MA (at 0.9372) which could restrict the upmove to 0.9450. On the downside immediate Support is seen in 0.9200-9180 region and then strong Support is seen in 0.9100-9080 region. There are chances that the immediate Support in 0.9200-180 region itself to hold. If it continues to trade above 0.9200, then there could be good chances of seeing a break above 0.9245 this week. 0.9040, 0.9000 are the other significant Supports to be watched. A break below 0.9000 can see 0.8935 on the downside.

Limit Buy Order: Buy USD 10K at 0.9205, SL 0.9125, TP 0.9325

GBP-USD @ 1.5832/35...Can fall to 1.5700-5600?

R: 1.5960-70 / 1.6030-60 S: 1.5800 / 1.5700-680 / 1.6035-00

Although the important Support near 1.5800 held very well last week and the Cable saw a good bounce from its low of 1.5809 to 1.5984, failure to sustain this upmove and break above the 55-Week-MA (1.5963) and the 200-week-MA (1.5950) strongly followed by a sharp fall in the final sessions has left high chances of seeing a break below 1.5800. This is some thing that needs to be watched this week. A break below 1.5800 can take it down to 1.5700-5680 initially and then possibly towards 1.5630-00. This 1.5630-00 is a very important Support region on the monthly chart and it can hold very well on its first test. Longs can be taken in 1.5630-00 Support region. On the other hand, if 1.5800 holds, a bounce back to 1.5950-80 or even 1.6030-60. A strong rise past this 1.6030-60 Resistance region is needed now for the pair to bring in further bullishness and extend its upmove further.

Stop Loss Sell Order: Sell GBP 10K at 1.5790, SL 1.5870, TP 1.5730

Trade ideas for the week: 1) Buy on dip to 1.5630-00

AUD-USD @ 1.0329/32...Mixed

R: 1.0400 / 1.0450 / 1.0490 S: 1.0350 / 1.0300 / 1.0250

The sharp rise from the low of 1.0226 last week failed to rise past its important Support-turned-Resistance at 1.0452 and has come off from its high of 1.0453. This still leaves the pair pressured on the downside. But however, Aussie can get Support near 1.0300. If 1.0300 holds, then we can see a rise to test the Support-turned-Resistance level once again which comes in at 1.0490 for this week. This Support-turned-Resistance come in at 1.0490 for this week. Need to be watched. On the downside 1.0250 will continue to remain as the important Support. 1.0190, 1.0135-30 are the important Support levels seen below 1.0250 on the monthly chart and 1.0103 is a significant Support on the weekly.

Happy Trading!