USD-CHF @ 0.9295/98...Ranged but likely to rise holding 0.9270
R: 0.9350 / 0.9400 / 0.9460 /
S: 0.9300-270 / 0.9180 /
Continues to trade in the tight 0.9270-320 range and is not finding strength as yet to break out on the upside. The bigger picture though still looks in the favor of 0.9270 holding for a rise towards 0.9400-60 in the coming days. On the down side 0.9270-50 seems to be a good support which is likely to hold the pair from moving lower. The forecast remains positive till 0.9250 is in place for a rise towards 0.9400-60. Longs can be taken near 0.9270 with tight stops.
GBP-USD @ 1.5825/28...Weak
R: 1.5900-35 / 1.6000 / 1.6080
S: 1.5830 / 1.5740-25 /
Cable is also trading flat with no significant move in either direction. We expect 1.5900 to be good resistance going forward. The daily and the weekly charts are looking bearish and we are likely to see a fall towards 1.5735 and 1.5660 in the coming days. If at all bounce is seen it is expected to be capped near 1.5900. Shorts can be taken on a rise towards 1.5900 which is likely to be held going forward.
Limit Sell Order
Sell GBP 10K at 1.5878, SL 1.5935, TP 1.5760
AUD-USD @ 1.0495/98...Cautious
R: 1.0600-20 / 1.0750 / 1.0840
S: 1.0500 / 1.0440-00 / 1.0340
Aussie continues to trade in the 1.0500-600 range and is not bouncing from 1.0500 level which is a bit worrying. If this level is broken decisively (firms break below 1.0480-90) then a fall towards 1.0450-00 can be seen. We are not sure if this break will happen or not. We need to wait and watch for this move. The longer term though looks good on a rise above 1.0620 which is significant resistance for the pair. We will have to wait and watch if a dip to 1.0400 is seen before a rise above 1.0620.
AUD 10K Long at 1.0510, SL 1.0470, TP 1.0570