USD-CHF @ 1.1000...Resistance at 1.1025-35
R: 1.1025-35 / 1.1068 / 1.1092-1.1113
S: 1.0966 / 1.0898 / 1.0800
Dollar-Swiss rose sharply and is once again testing the Resistance near 1.1025 being the 38.2% retracement of the fall from 1.1742 (20-Apr) to 1.0590 (2-Jun). A break past this Resistance would target the Resistance region of 1.1092-1.1113. We are holding 2 Longs in this anticipation as the pair has risen after the formation of flag pattern on the 4H candles. However if the Resistance is honoured we might see the pair fall towards 1.0800 once again. It would as well lend further strength to the range that the pair has been moving in. The range is 1.06-1.10.

Earlier during the day, we were stopped out of the Short entered at 1.0950 losing 40 pips in the process.

Holding:
USD 10K Long at 1.0920, TSL 1.0940, TP 1.1060
USD 10K Long at 1.1011, SL 1.0940, TP Open
 
 
GBP-USD @ 1.6275...Support at 1.6224
R: 1.6318-47 / 1.6390-6403 / 1.6424-39
S: 1.6224 / 1.6100 / 1.5966-50
Cable seems to have shyed away from 1.6250 before executing the Buy Order at 1.6220. We continue to place the Limit Order in anticipation that this level will be seen during the US session and that the pair will bounce from there towards the upper end of the range that we have been eyeing near 1.66. This would lend further confirmation to the range that we have been mentioniong for quite sometime.

We continue to reiterate that since the pair is in a strict range of 1.62-1.66 which can be further be extended to 1.6180-1.6680 on a spike on either side. A break of the expanded range would next target 1.6850 on the upside and 1.5950 on the downside.

Limit Sell Order:
Sell GBP 10K at 1.6600, SL 1.6690, TP 1.6300

Limit Buy Order:
Buy GBP 10K at 1.6240, SL 1.6170, TP 1.6500

 
 AUD-USD @ 0.7973...Immediate Support at 0.7941
R: 0.7996-8016 / 0.8122 / 0.8180
S: 0.7940 / 0.7885 / 0.7851
Aussie has risen on the Support of the 21-SMA (0.7941) on the 4-H chart. There's trendline Support at 0.7809 on the daily chart which is providing medium term Support to the pair and the Resistance at 0.82 is keeping the pair ranged over the last several days.


Happy Trading!