Trading Ideas on GBP/USD, AUD/USD and USD/CHF

USD-CHF @ 0.9530/33...Can it break 0.9500 now?

R: 0.9580-600 / 0.9630 / 0.9700
S: 0.9500 / 0.9400

Dollar-Swiss has come off well from the day's high of 0.9578 and is keeping up the chances of testing 0.9500 on the downside. Market will be waiting for the Fed Chairman Bernanke's speech today for any hint on a QE3. It will decide whether the market will hold on to the Support at 0.9500 or not. 0.9400 can be seen on a break below 0.9400. Having said this we are removing the Limit buy order placed in the morning and we will wait and see as what Bernanke says. However, the bigger picture is bullish and a fall to 0.9400 if seen will be a very good level to buy. As such we are placing a new limit buy order near 0.9400

Limit Buy Order:
Buy USD 10K at 0.9415, SL 0.9345, TP Open

GBP-USD @ 1.5580/83...Can see a pull back after 1.5650

R: 1.5600-20 / 1.5650 / 1.5700
S: 1.5575 / 1.5500

The Cable has shot up sharply above 1.5500 following the BOE leaving the rates unchanged at 0.50% with no further more stimulus. Our bullish view of seeing 1.5600-50 on the upside remains intact. But now what next after 1.5600-50?. Having risen so sharply, there could be chances of seeing a pull back from 1.5650. We will have to wait and see.

Holding:
GBP 10K Long at 1.5440, TSL 1.5545 (up from 1.5525), TP 1.5620
As soon as the market trades 1.5595 bring TSL up to 1.5565 and as soon as the market trades 1.5605 there after bring TSL further up to 1.5580

AUD-USD @ 0.9979/82...Can test Resistances at 1.0030/70

R: 1.0000-30 / 1.0070
S: 0.9900 / 0.9800

Aussie has risen back well from the day's low of 0.9911 and is heading towards our upside target of 1.0000-30. The chances of this upmove extending further to 1.0070 cannot be ruled out. 1.0030 and 1.0070 are good Resistances and the Aussie can see a pull back move from there. On the downside 0.9900 is a significant Support level and only a strong break below this Support will bring in downside pressure to the pair

Happy Trading!