USD-CHF @ 1.0586/87...Cautious
R: 1.0630 / 1.0680-0700 / 1.0750-65
S: 1.0550 / 1.0550 / 1.0420-00

After testing the Resistance at 1.0630 mentioned earlier and recording a high of 1.0641, Swiss has fallen sharply breaking below 1.0600. Immediate Support is seen at 1.0550. If it continues to trade lower a break below 1.0550 might pull it down towards 1.0500. As mentioned earlier 1.0500 is the significant level to watch for on the downside as a break below this level might trigger a further dip towards 1.0300 and so we remain cautious on the pair. Any strong upmove is not looking likely now and we expect the Resistance at 1.0630 to hold. However a strong break above 1.0630, if seen, might take it up towards 1.0680-0700.
 
 
GBP-USD @ 1.6383/86...Holding Long
R: 1.6420-30 / 1.6493 / 1.6525
S: 1.6324-10 / 1.6258-42 / 1.5954-34

Cable has risen from a Low of 1.6340 and now looks to have started to take off. A break of 1.6430 would increase chances of a rise towards 1.6700 over the next couple of days. We reiterate our morning view: "It is likely to rise over the next few days on the back of trendline Support at 1.6324-10 on the daily chart. A break below this has strong Support at 1.6260 which should be bought for a rise towards 1.68 at least over the next few days. A break below the Support at 1.6260 could be very bearish aiming for 100-DMA which is currently at 1.5934. "

Holding:
GBP 10K Long at 1.6355, SL 1.6350 (up from 1.6250), TP 1.6680
As soon as market trades 1.6480, bring SL upto 1.6420


 
 AUD-USD @ 0.8393/97...Bullish
R: 0.8421 / 0.8450-70 / 0.8580-0.8600
S: 0.8335 / 0.8315-00 / 0.8275

Aussie tested the Support at the 21-DMA during the day. As expected this Support held and the pair has risen and is now trading just below 0.8400. If the current upside momentum continues, a break above 0.8400 might take it up towards the Resistance region 0.8450-70 in the coming sessions/days. Note that the projected Max-High for the day is 0.8457. A sharp move on the downside is not looking likely now and we expect the Support at the 21-DMA (0.8335) to hold in the US session. However a break below the 21-DMA (0.8335), if seen and a further downmove below 0.8300 might see 0.8250-20 on the downside.

Happy Trading!