USD-CHF @ 0.9408/11...Downtrend can resume soon
R: 0.9410 / 0.9460 /
S: 0.9370 / 0.9300 / 0.9260
The pair is trading flat near 0.9400 which is its 200 EMA resistance on the daily charts and it has seen a rise from 0.9300 levels from yesterday. As mentioned earlier, the overall trend is bearish but a rise to 0.9410 and also to 0.9460 is possible, which are its significant resistance levels for the pair from which we can expect the pair to start moving lower. Euro seems to be taking good support at its 200 EMA on the daily charts at 1.2850 and has support in the 1.2850-35 region which is expected to hold and hence we see limited upside for Swiss.. Short can be considered above 0.9400 with stops above 0.9460.
Limit Sell Order
Sell USD 10K at 0.9420, SL 0.9475, TP 0.9250
Sell USD 10K at 0.9460, SL 0.9510, TP 0.9300
GBP-USD @ 1.6168/71...Looks safe till 1.6150 holds
R: 1.6200 / 1.6200 /
S: 1.6160-50 / 1.6080 /
The pair moved lower taking support at 1.6150 which is a trend line support on the weekly charts also the 1.6160-50 is a good support range for the pair and a bounce from here can take the pair higher towards 1.6300 and 1.6380 as well. We have mentioned that 1.6160-50 is a crucial support and can be make or break for the pair. The chances are more that this support will be held and rise towards 1.6300 will be seen. However if 1.6150 is breached convincingly a fall to 1.6080 cannot be ruled out but is unlikely.
AUD-USD @ 1.0348/51...Weak
R: 1.0.375 / 1.0400 /
S: 1.0330 / 1.0230 /
The pair did give a brief rise towards 1.0400 but has again gave away its gains and could not rise towards its neckline of the Head and Shoulder pattern at 1.0400, though an upside towards it is still possible but 1.0375 it self is a good resistance on the daily charts and can be held for the day and drop towards 1.0230 is also possible in the week. It has good support of 100 EMA on the daily charts at 1.0330 which can give support to the pair but looks good to be broken going forward. Short can be considered on a rise to 1.0400 with tight stops.
Limit Sell Order
Sell AUD 10K at 1.0395, SL 1.0455, TP 1.0310