EURO, JAP YEN and EURO-YEN
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering to our newsletter.Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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USD-CHF @ 1.0622/25...Heading towards Resistance
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R: 1.0662 / 1.0685-95 / 1.0747
S: 1.0596-85 / 1.0521 / 1.0487-75
The pair traded sideways for the Asian session, taking Resistance from 89-period 1-hourly MA of the Lows at 1.0634. USD-CHF made a Low of 1.0611 and a High of 1.0646. This narrow range can extend to 1.0662 in the US session on the upside and 1.0609 below the current levels. 1.0694 may act as a strong Resistance while lower end of the ‘Range’ (given by a Low of 1.0585 and a High of 1.1022 in which the pair has traded for the past 10 weeks) continues to function as a good Support.
GBP-USD @ 1.6910/13...Might rise again
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R: 1.6930-50 / 1.7030-50 / 1.7171
S: 1.6830-6800 / 1.6770 / 1.6730-00
Cable fell sharply breaking below 1.6900 after the BoE kept the interest rate unchanged (0.5%) and increased its assest purchase program by 50 Bln pounds to 175 Bln pounds. If it continues to trade below 1.6900 in the coming sessions a break below 1.6800 might see 1.6750-00 on the donwside. As the pair is looking strong on its upmove since the break above 1.6600, we may not see a further break below 1.6700 and might expect the rally to continue.
AUD-USD @ 0.8435/37...Down from Resistance
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R: 0.8456 / 0.8491-0.8500 / 0.8553
S: 0.8398-80 / 0.8330 / 0.8302
Aussie moved up retest the 1st Resistance level of 0.8456 making a High of 0.8455. Since then the pair has been moving towards the 1st Support level of 0.8398 and has made Low of 0.8403. If the pair has to continue its rally, then Support of 0.8398-80 should sustain the correction. However, break of these levels can lead to 0.8330 or 0.8302. On the upside, 0.8456 and 0.8490 may both act as strong Resistances.
We bagged a profit of 51 pips on our Long trade entered at 0.8404.







