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 @ 1.1758/62.....Resistance at 1.1800
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R: 1.1760 / 1.1800
S: 1.1700 / 1.1680
USD-CHF dipped to a low of 1.1678 during the day and has seen a strong bounce back. However the pair has been maintaining below its “breakout” level of 1.1800 which was broken yesterday and as such, the pair remains in a downtrend. As such, rallies towards 1.1800 are likely to meet significant sellers. The immediate Resistance is at 1.1760 and above that the Resistance is at 1.1800.

On the downside the Supports are at 1.1700 and 1.1680. The bias for the pair remains bearish and a rally towards 1.1800 could be used to sell with a stop above 1.1860 targeting 1.1720.
 

 GBP-USD @ 2.0142/47....Strong Resistance near 2.0175
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R: 2.0175 / 2.0230 / 2.0270
S: 2.0110-00 / 2.0070
GBP-USD rallied to a high of 2.0175, near the upper end of its Range of 2.0175 – 1.9880, within which the pair has been trading in the week so far. The pair has held below 2.0175 on first testing and that is expected to hold later on in the day as well. A move above that could see a rally towards 2.0230. On the downside the Supports are at 2.0110-00 and a move below that could see a fall towards 2.0070. The bias for the pair is bearish while it is below 2.0175.

EUR-GBP has too come off its intraday high of 0.7023 and the cross has an important Support of 0.6930.


 
 AUD-USD @ 0.8607/12....Bullishness continues
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R: 0.8660 / 0.8700
S: 0.8600 / 0.8550
AUD-USD has reacted down strongly during the day after the sharp rally, which was seen in the morning to a high of 0.8707. This correction in the pair has come after a sharp rally, which has been seen in the week so far (from a low of 0.8275), so this is not surprising.

The Support of 0.8600 is expected to hold, atleast for the next few hours. A break below this could result in a fall towards 0.8550 later on in the day. On the upside the Resistance is at 0.8660 and 0.8700. The bias for the pair continues to be positive. The pair could be used to buy with a stop below 0.8600 targeting 0.8700 once again.

Happy Trading!