FX Thoughts for the Day

R: 0.9140-50 / 0.9185
S: 0.9100 / 0.9075

Dollar-Swiss is continuing to trade lower and ranged. Our view is the same. Immediate Resistance is seen in 0.9140-50 region which we expect to hold. 0.9075 will be an important Support level to be watched and a strong break below it would trigger further fall. The pair is expected to remain pressured on the downside.

Holding:

USD 10K Short at 0.9140, SL 0.9175. TP 0.9080

As soon as the market trades 0.9110 trail SL to 0.9130 and as soon as the market trades 0.9095 there after bring TSL down to 0.9115

USD 10K Short at 0.9220, TSL 0.9155 (down from 0.9165), TP 0.9030

As soon as the market trades 0.9080 bring TSL down to 0.9120 and as soon as the market trades 0.9060 there after bring TSL further down to 0.9090

R: 1.5850 / 1.5900 / 1.5930
S: 1.5800 / 1.5760-00 / 1.5700

Cable dipped to a low of 1.5766 and has bounced back well above 1.5800 again. Significant Resistance is seen at 1.5850 which needs to be broken for the pair to extend it upmove further. While below 1.5850 a downmove to 1.5750-00 is possible and cannot be ruled out. We will have to wait and see how the market closes for the week today to get a clear picture on the direction of move going forward.

R: 1.0700-20 / 1.0780-800
S: 1.0660 / 1.0600-580

Aussie has dipped below its important 1.0700-685 Support region and is now trading lower. 1.0660 will be the next important Support level to be watched which might hold in the US session today. While this Support at 1.0660 holds, there is no immediate threat on the downside. On the other hand a strong break below 1.0660 can take it further down towards 1.0600-580. We will have to wait and see what happens.

Exit Trade:

Exit (SL) the AUD 10K Long entered at 1.0710