USD-CHF @ 1.0684/89...At major Support
R: 1.0764/ 1.0796 / 1.0848-58
S: 1.0645-35 / 1.0599

The pair traded narrowly between the ‘Intermediate Resistance of 1.0723’ and the 1st Support level mentioned at 1.0694 making a High of 1.0735 and Low of 1.0691. We stand by what we said in the morning…break below 1.0694 will lead the pair straight towards 1.0645-35 Support zone. On the upside, break through 1.0723-32 will propel the pair towards 1.0764. To reiterate, there is a cluster of Resistances at 1.0796 interaction with which will determine the long term major trend in $-Swiss. Overall the pair is at a major Support level, break down of which will lead to 1.0645-35 while Support from the same is likely to lead to more consolidation and movement towards 1.0796 in the coming sessions.

Holding:
USD 10K Short at 1.0680, SL 1.0730, TP 1.0640
As soon as the market trades 1.0660, bring SL down to 1.0710
 
 
GBP-USD @ 1.6578/83...Strong Support at 1.6430
R: 1.6625-49 / 1.6701
S: 1.6515-6488 / 1.6430 / 1.6364

Cable fell during the day breaking below 1.6500. However it has risen from the low 1.6486 and is now trading above 1.6500. As mentioned earlier the Significant level to watch for on the downside is 1.6430 (55-DMA and also the Trendline Support seen on the daily chart). We expect this Support at 1.6430 to hold if a break below 1.6500 is seen in the US session. However if it continues to trade above 1.6500 and gains upside momentum we may see a rise towards 1.6650-6700 in the coming session. Note that the projected Max-High for the day is 1.6701. To see the Trendline Support on the GBP-USD graph click on the following link:
http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle


 
 AUD-USD @ 0.8429/32...Losing Momentum
R: 0.8443 / 0.8486-90 / 0.8600
S: 0.8391-83/ 0.8360 / 0.8328

Aussie did take Support from 0.8391, as it bounced back after making a Low of 0.8394. However, the pair did not have enough steam to move higher straight ahead as it slipped sideways. Weakness will be confirmed after the break of the 1st Support at 0.8391-83 which can push the prices down to 0.8360 and 0.8328. Any further run up towards 0.8443 or 0.8490 and retracement there from may be seen as a potential Head and Shoulders or Double top formation. Overall, it is a wait and watch situation, keeping in mind the important levels at 0.8391-83 and 0.8486-90

Happy Trading!