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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$-Swiss @ 1.2471/76....Support at 1.2420
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R: 1.2500 / 1.2553
S: 1.2453 / 1.2417 / 1.2405
$-Swiss has slipped once again during the day as it continues to show selling on rallies currently. Now on the downside the important Support is at 1.2405, which if broken could lead to a sharper fall towards 1.2350 later on in the week. While that holds, the pair could move back up towaRDS 1.2550 once again.

Intraday the Supports are coming in at 1.2453, a break below which may lead to a fall towards 1.2417, the statistically projected Max Low for the day. On the upside the Resistance is at 1.2500 and then at 1.2553.

Order:
Buy $25K at 1.2430, SL 1.2360, TP 1.2540

 
 Cable @ 1.9071/76....Holding Short
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R: 1.9100 / 1.9140-50
S: 1.9035 / 1.9000 / 1.8965
The Cable has firmed a little during the day but it continues to trade below the big Resistance of 1.9147, which has been nearly tested 3 times in the last 6-days. While the pair trades below that, there may be a fall towards 1.8950 once again. If 1.9150 is crossed, we may see a rally towards 1.9300 later on in the week.
Intraday the Supports are coming in at 1.9035 and then at 1.9000. The statistically projected Max Low for the day is at 1.8965. On the upside the Resistance is at 1.9100 and then at 1.9140. The statistically projected Max High for the day is at 1.9150. We are holding a Short position and are willing to sell more on a rally.

Holding:
GBP 15K Short at 1.9061, SL 1.9140 (down from 1.9160), TP 1.8980. As soon as the market trades 1.9060, bring SL down to

1.9100

Order:
Sell GBP 15K at 1.9130, SL 1.9160, TP 1.8980.

 
 Aussie @ 0.7697/7701....Support at 0.7690
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R: 0.7720 / 0.7740 / 0.7764
S: 0.7688 / 0.7670
The Aussie slipped to 0.7690 in the morning even though the RBA increased interest rates by 25bp. However, it did not see follow-through selling and instead bounced to 0.7719. It needs to break below 0.7690 in the US session if it has to meet the bearish target of 0.7630. Otherwise, in case of a rise past 0.7620 now, it could move up towards 0.7770 as well.

Our Short position is looking a little uncomfortable.

Holding:
AUD 20K Short at 0.7688, SL 0.7725 or 0.7690, whichever comes earlier


Happy Trading!