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 @ 1.2230/35.....Sideways range, sell rally
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R: 1.2260-64 / 1.2300
S: 1.2200 / 1.2170-69
USD-CHF again tried to rally during the day but hit a high of 1.2250 and has subsequently fallen. The pair continues to see selling near its strong Resistance at 1.2260-64. Now if that is crossed then the short covering in the pair would lead to a rally towards 1.2300-04, the latter being the statistically projected Max High for the day. On the downside the Support is at 1.2300 and then at 1.2169, the statistically projected Max High for the day. The bias for the pair is currently neutral however a rally towards 1.2290 could be used to sell with a stop above 1.2320 or a dip to 1.2180 could be used to but with a stop at 1.2150 as an intraday trade.

 
 GBP-USD @ 1.9281/86......Sell a rally
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R: 1.9350 / 1.9386-9400
S: 1.9260 / 1.9233
GBP-USD has stayed very quiet during the day and has traded between 1.9270 on the downside and 1.9325 on the upside. Now we could see the pair consolidating for the next few days possibly between 1.9200 on the downside and 1.9400 on the upside.
For today now the Resistance would come in at 1.9350. If that is crossed then there could be a rally towards 1.9400. Note the statistically projected Max High for the day is at 1.9386. On the downside the Support is at 1.9260 and then at 1.9233, the statistically projected Max Low for the day. The pair should be sold on a rally to 1.9380 with a stop above 1.9420 as a 2-3 day trade.

 
 AUD-USD @ 0.7776/81.....Buy intraday dip
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R: 0.7794 / 0.7820-30
S: 0.7750 / 0.7720
AUD-USD has remained bullish during the day and the pair has come close to its statistically projected Max High for the day of 0.7794. Now further strength for the pair over today or tomorrow is expected. If so, there could be a rally towards 0.7820-30.
On the downside the Support is at 0.7750 and then at 0.7720. The bias for the day remains positive and a dip to 0.7750 (if seen) should be used to buy with a stop below 0.7720.


Happy Trading!