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 @ 1.1616/20... Could be ranged
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R: 1.1750 / 1.1800-25 / 1.1870
S: 1.1650 / 1.1600 / 1.1560
The pair faced some Resistance at 1.1750 and has slipped since then towards 1.1625. In the medium term there is a possibility that a range between 1.1550-1.1750 could develop.

Having mentioned the range there is an outside chance that the pair breaks above the range this week itself to test the bigger Resistance at 1.1800. Overall, the bullish momentum remains intact and the consolidation in all likelihood is expected to break out upwards to result in a rally towards 1.1800 if not beyond.

If however, the pair is unable to sustain within the boundaries of the range and breaks below 1.1550, a slip towards 1.1400-350 could be possible.
 
 
GBP-USD @ 1.6016/21.... Break above 1.60
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R: 1.6050 / 1.6100 / 1.6180-6200
S: 1.6000 / 1.5920 / 1.5860 / 1.5760
Strong Resistance in and around 1.5900-50 keeps Cable pressured lower for most part of the day. From here, the bias could be bullish for the US session with the pair targeting 1.6180.

However, a dip cannot be ruled out, with the possibility of seeing 1.57-56 over the week. A rise from here faces a stronger Resistance at 1.62, which is not likely to break with the BOE meeting tomorrow. Key interest rates are expected to see a cut by 50-bps. However, the news might not result in a strong move in the pair as the rate cut is widely priced in by the market.


 
 AUD-USD @ 0.6968/72.... Bullish bias
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R: 0.7000 / 0.7100 / 0.7160-75
S: 0.6920 / 0.6850 / 0.6800 / 0.6720
The pair has been relatively calm this morning and has risen after finding Support near 0.6850. The Australian dollar is expected to remain steady if not strengthen towards 0.72 over the course of the week.

However, there is a possibility that the pair could see a dip, before eventually gathering enough momentum to scale past the Resistance at 0.7004. We are holding a long position and intend to enter again if a sharp decline takes the pair below 0.6800.

Holding:
Long AUD 10K at 0.6910, SL 0.6830, TP 0.6980

Limit Buy Order:
Buy AUD 10K at 0.6770, SL 0.6700, TP Open

Happy Trading!