February 21, 2012 14:34 GMT

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

USD-CHF @ 0.9132/35...Resistance at 0.9150

R: 0.9150 / 0.9200 / 0.9230-50
S: 0.9100-9080 / 0.9045Dollar-Swiss is getting good Support near 0.9080 and has risen sharply above 0.9100. However, immediate significant Resistance is at 0.9150 which needs to be broken for the pair to rise further. A strong rise past 0.9150 can take it further up towards 0.9200-30 in the coming sessions. while 0.9150 holds, a pull back once again to 0.9080 is possible and it will also keep it pressured on the downside for a test of 0.9050.

GBP-USD @ 1.5814/17...Supports coming up

R: 1.5850 / 1.5909
S: 1.5787 / 1.5750Cable failed to rise past 1.5850 strongly during the day and has come off to test 1.5800. However, the 13-DMA (Currently at 1.5787) is holding well as of now. Also there is good Support near 1.5750 as well. Having said this, the downside could be limited on the pair. On the upside the 200-DMA (1.5909) is the important Resistance level to be watched and the pair needs to see a strong rise past this Resistance move up further going forward.

AUD-USD @ 1.0667/70...Immediate Support in 1.0650-40 region

R: 1.0680-700 / 1.0750 / 1.0800
S: 1.0650-40 / 1.0600 / 1.0570-65Contrary to our expectation, the Aussie has dropped below 1.0700 and is trading lower now. Immediate Support is seen in 1.0650-40 region which needs to be watched now. While this immediate Support holds, a bounce back to 1.0750-800 is possible once again. On the other hand, a strong break below 1.0640 can drag it further down towards 1.0600-570 in the coming sessions. The broader picture is bullish and we expect the immediate Support in 1.0650-40 region to hold. We will have to wait and see.

Holding:
AUD 10K Long at 1.0725, SL 1.0635, TP 1.0780