FX Thoughts for the Day

USD-CHF @ 0.9267/70...Approaching the upper end of the 0.9300-100 range
R: 0.9265-75 / 0.9300 / 0.9330
S: 0.9210 / 0.9180 / 0.9100-80

Dollar-Swiss through the day first dipped to find support near 0.9220 from where it bounced back and currently trades above its 0.9265 level. In the near term it now looks likely to rise further towards 0.9300 where it can face resistance to turn down again. As of now the 0.9300-100 range is holding and the danger would be only if a strong rise past 0.9300 is seen. We would be slightly biased for the range to continue, we will have to wait and watch. On the down side it has good support near 0.9210 and 0.9180 but those can be broken if the pair reverses from 0.9300.

Holding:
USD 10K Short at 0.9250, SL 0.9320, TP 0.9125

Limit Sell Order:
Sell USD 10K at 0.9290, SL 0.9335, TP 0.9210
 
 
GBP-USD @ 1.6038/41...Ranged
R: 1.6100 / 1.6175 / 1.6200 /
S: 1.6000-5990 / 1.5960

Cable found resistance near 1.6100 from where it has dipped again and is now moving towards its 1.6000-5990 as mentioned in the morning. If this support is broken then it is likely to find support near 1.5960 which is its trend line support on the daily charts. It continues to trade in the 1.6300-600 range. We would be looking to go long in the pair when this current dip finds support ear either of the mentioned supports. Any rise before this dip is likely to find resistance near 1.6100 and 1.6160 levels.

Limit Buy Order
Buy GBP 10K at 1.5945, SL 1.5890, TP 1.6035
Buy GBP 10K at 1.5905, SL 1.5880, TP Open

 
 AUD-USD @ 1.0547/50...Mixed in the near term
R: 1.0580-620 / 1.0650 / 1.0750-65
S: 1.0525 / 1.0450 / 1.0400 / 1.0350

Aussie has not moved much through the day and our forecast remains the same. Hence we are repeating the morning comments. Aussie continues to trade near 1.0600 as it is not finding strength to break above this level which is its important resistance. It will get very bullish above this and we can see it rising further, but a strong daily and a weekly close is required for the same. On the down side it has good support near 1.0450 levels which can give support to a dip if seen. Though the longer term might well be very promising for Aussie, the immediate term continues to look mixed. It is advised to stay out of the pair till a clear move is seen in either direction.

Happy Trading!