|USD-CHF @ 0.9183/86...Strong Support in 0.9120-00 region.|
R: 0.922540 / 0.9315 / 0.9400
Dollar-Swiss failed to rise past its 0.9225-40 Resistance region and fell sharply during the day from its high of 0.9223. It is now bouncing back from its low of 0.9139. Strong Support is seen in 0.9120-00 region and the outlook is bullish while above this Support region. We expect this 0.9120-00 Support region to hold and 0.9400-500 can be targeted on the upside on a strong rise past the 0.9425-40 Resistance region.
Limit Buy Order:
|GBP-USD @ 1.5793/96...200-MA Resistance on the 4-hr chart at 1.5836|
R: 1.5836 / 1.5900 / 1.5950
Although Cable is finding Support near 1.5750, it is not gaining upside momentum for a strong rise past 1.5800. Also the 200-MA Resistance on the 4-hr chart is at 1.5836. With lack of upside momentum we expect the current bounce back move to be restricted to 1.5836. We expect a test of 1.5700 on the downside in the coming sessions. As mentioned earlier, 1.5700 is a strong Support level to be watched and a strong break below it can take the pair further down towards 1.5600-5500.
|AUD-USD @ 1.0114/19...Watch Resistance at 1.0200|
R: 1.0200 / 1.0250 / 1.0330
Aussie saw a sharp bounce during the day. However, it has come off from just below the 200-MA on the 4-hr chart (currently at 1.0196). The immediate outlook remains mixed as the pair is bouncing back once again from near 1.0100. However, 1.0200 will be an important Resistance on the upside and only a strong rise past this Resistance will ease the downside pressure. While below 1.0200, the threat of seeing 1.0000-0.9950 on the downside is still there. We will have to wait and see what happens.
We got stopped out of the Short position entered at 1.0065 losing 70 pips.