USD-CHF @ 0.9044/47...Break below 0.9080 has made the outlook bearish
R: 0.9080-0.9100 / 0.9130 / 0.9180 /
S: 0.9000 / 0.8935
Dollar-Swiss weakened further and has broken its 0.9080 support. We were expecting this support to hold which would have then enabled the range to continue. Now that the support has broken a further dip towards 0.9000 and 0.8930 is likely to be seen in the coming days. On the upside now 0.9080-0.9100 become important resistances which can now restrict a rise beyond it. The weekly and the Monthly charts now look quite bearish and a further fall looks to be coming.
GBP-USD @ 1.5829/32...Buy on dips
R: 1.5950-60 / 1.6000 / 1.6060 / 1.6100
S: 1.5840-00 / 1.5760 / 1.5680
Cable dipped in the intra day towards 1.5800 after making a high of 1.5879. The current dip has taken support near 1.5815-00 which is a good support in the near term. Going forwards we expect the larger move to be on the upside, but a dip to 1.5770 cannot be ruled out. The medium term target for Cable seems to be around 1.6130 which would be intact till the time the support at 1.5700 is held. So the bias remains positive and we would advise to buy the pair on dips with a wide stop below 1.5700. The danger would be only if a break below 1.5700 is seen after which a further down side to 1.5400-300 can be seen.
GBP 10K Long at 1.5860, SL Open, TP 1.6130
GBP 10K Long at 1.5810, SL Open, TP 1.6130
AUD-USD @ 1.0395/98...Likely to break 1.0350 for a further dip
R: 1.0440-75 / 1.0500 / 1.0570-600
S: 1.0350 / 1.0290 / 1.0150
Aussie has broken 1.0385 support on the daily charts and has moved lower towards its next support level of 1.0350. An immediate bounce from this support can be seen towards 1.0400-15 from where we expect it to dip lower towards 1.0350 and to break it eventually for a fall towards 1.0280 and 1.0150. Although there are chances of it trading in the 1.0400-355 range but the chances of 1.0355 breaking seem to be slightly more. Trading idea would be sell the pair short on a rise near 1.0425-35 with a stop above 1.0475 levels.