EURO, JAP YEN and EURO-YEN
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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USD-CHF @ 0.9284/87...Watch Resistance near 0.9300
R: 0.9300-10 / 0.9350
S: 0.9250 / 0.9220-00
Dollar-Swiss is continuing to trade just above its 21-Month-MA Resistance (0.9266). It will have to be seen whether it can sustain above 0.9250 or not. If it continues to trade above 0.9250 and gains upside momentum, then futher rise to 0.9300-20 can be seen. The pair has been rising well over the last few days and as such a pull back from current levels might not show much strength. 0.9220-00 is a very good Support region now which could be tested if pull back is seen from current levels. Only a strong break below 0.9200 will now bring back the downside pressure.
Holding:
USD 10K Short at 0.9250, SL 0.9315, TP 0.9065
GBP-USD @ 1.5676/79...Trading flat
R: 1.5700-20 / 1.5750 / 1.5800
S: 1.5640 / 1.5600
Cable remains flat with no movement in between 1.5660-5700. With no movement since the morning, our view remains the same. The important Support near 1.5640 will be a key level to be watched. Whether this Support holds or breaks will determine the further direction of move. We will have wait and see what happens. A strong break below 1.5640 can take it down towards 1.5600-5550.
AUD-USD @ 1.0674/77...Can break below the 21-DMA Support?
R: 1.0680-700 / 1.0750 / 1.0825
S: 1.0648 / 1.0600-580
The 21-DMA (1.0648) is holding well, but the Aussie is not gaining upside momentum to strongly rise past 1.0700. This leaves the pair pressured on the downside and while below 1.0700 there could be chances of seeing break below the 21-DMA which can take it down to 1.0600-580 which is an important Support region seen below the 21-DMA. We expect a fresh bounce from this 1.0600-580 Support region.
Limit Buy Order:
Buy AUD 10k at 1.0580, SL 1.0510, TP 1.0880
Happy Trading!
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