USD-CHF @ 0.9350/53...Weak
R: 0.9410 / 0.9460
S: 0.9320-00 / 0.9250 /
The pair traded flat before EU President Mario Draghi’s statement that the EU faces risk from financial instability in the region and we saw the USD strengthening against most of the currencies. The pair made a high of 0.9384 where if faced resistance to retreat lower again. Though the comments did have an effect on the pair but we maintain our view that the pair is bearish and is likely to move lower towards 0.9300 and 0.9250 in the coming sessions, once it moves below 0.9320 the likeliness of a down move will increase and it can move towards 0.9250 swiftly. On the upside the pair has strong resistance of its 200 EMA at 0.9410 and a trend line resistance at 0.9460 which should cap the pairs upside.
USD 10K Short at 0.9360, SL 0.9430, TP 0.9260
As Soon as market trades 0.9290 move SL 0.9360, As soon as market trades 0.9270 move TSL to 0.9290
GBP-USD @ 1.6031/34...Likely to bounce towards 1.6080-100
R: 1.6080 / 1.6125 / 1.6080
S: 1.5985 / 1.5910
The pair after making a low of 1.6000 has taken support and looks good for a bounce from these levels towards 1.6080 and 1.6125 before it moves further lower towards 1.5910. We maintain our bearish stance on the pair but for that it should continue to trade below 1.6160 and if we see a break above 1.6160 a further up move towards 1.6250 can be seen but does not look likely. Trading the pair and shorting it on a bounce to 1.6125 would be risky and if a tall the trade is taken a stop should be kept above 1.6160. A break below 1.5985 will quite bearish and would then give a better opportunity to short the pair.
AUD-USD @ 1.0230/33...Bounce to 1.0275-320 is likely in he immediate term
R: 1.0275 / 1.0320 / 1.0380
S: 1.0150 / 1.0100
The pair has not moved much through the day and we maintain our view on the pair that if it manages to trade above 1.0275 a further rise to 1.0320 and 1.0380 can be seen. The bigger view is that the pair can either be ranged between 1.0600-180 and can target 0.9700 on the break of this range, for the moment the range is holding well and we would avoid to trade the pair till it either reaches on either end of the range or gives a clear bearish signal.