USD-CHF @ 1.0599/602...Might test the 55-DMA Support (1.0549)
R: 1.0600-20 / 1.0680-1.0700 / 1.0735-50
S: 1.0570-49 / 1.0500-1.0480 / 1.0420

Swiss failed to sustain the break above 1.06 in the Asian session today and has fallen once again below 1.06 from the day's high of 1.0616. It is continuing to remain pressured on the downside and might expect it to test the 55-DMA (currently at 1.0549) in the US session today. We might expect a bounce back from this 55-DMA Support. However, a break below the 55-DMA (1.0549) might pull it further down towards 1.0500-1.0480.

On the upside, 1.0680-1.0700 region might resist the momentum of the bounce back rally for some time.


Limit Buy Order:
USD 10K Long @ 1.0560, SL 1.0480, TP open
 

GBP-USD @ 1.5046/49...Check Support at 1.4920-1.4900
R: 1.5058-81 / 1.5118 / 1.5158
S: 1.4920-4900 / 1.4882

The Cable has seen a sharp fall during the day after the Resistance near 1.5220 held strongly. Next important Support is available near 1.4920-1.4900 which may be tested and honoured during the US session. A break of this Support though not expected, but if seen may result in a retest of 1st Mar low of 1.4780.

The pair seems to be moving in an expanding bearish wedge and has already tested the wedge Resistance near 1.5220. One may have to allow for a cushion on the upside towards 1.5270. If such a level is seen, one must definitely sell. Hence we continue with the Limit Order. Notice this wedge on the daily candles at the following page: http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle

Limit Sell Order:
Sell GBP 10K at 1.5260, SL 1.5345, TP Open

 
 AUD-USD @ 0.9130/33...Resistance at 0.9165
 
R: 0.9165 / 0.9194 / 0.9239-48
S: 0.9112 / 0.9086 / 0.9041

Aussie is trading in the range of 0.9119-78 today. It has not been able to strongly break below the Support at 0.9135, as mentioned in our morning comments. In the US Session today, it may test the immediate Support at 0.9112 a break below which (less likely) may take it towards 0.9086. On the upside there is a Resistance at 0.9165, which may be honoured, though a break above this may take it towards 0.9194.

We expecta range of 0.9112-86 for the US Session today.

In the coming days it may be ranged in the region of 0.9086-0.9295 if it is unable to break above the strong Resistance region of 0.9248-95. However, strong break above this may render it further bullish.

Holding Long:
AUD 10K Long @ 0.9140, SL 0.9110, TP 0.9190 (Changed from open)


Happy Trading!