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FX Thoughts - Evening II - 27-Jan-2012 Evening Edition 1739 IST or 1209 GMT or 0709 EST

USD-CHF @ 0.9191/64...Can revisit 0.9150

R: 0.9200-25 / 0.9280-300 S: 0.9150 / 0.9100 / 0.9050 Dollar-Swiss has dipped below 0.9200 and keeping up the chances of revisiting 0.9150 as we had expected in the morning. Also as we had mentioned in our morning comments, the chances of the downmove extending further below 0.9150 towards 0.9100-9050. But it needs to sustain below 0.9200 for this. We will have to wait and see what happens. We are staying out of the market.

GBP-USD @ 1.5703/06...Resistance in 1.5710-25 region holding

R: 1.5710-25 / 1.5770-800 S: 1.5675-50 / 1.5600 / 1.5550 Cable has risen above 1.5700. However, it is not gaining upside momentum to extend its upmove strongly above 1.5700. The Resistance in 1.5710-25 region mentioned in our Morning comments is holding well. Failure to rise past 1.5725 will keep up the chances of testing 1.5600 or even 1.5500 on the downside. We continue to retain our short position. Holding: GBP 10K Short at 1.5680, SL 1.5735 (down from 1.5770), TP 1.5520

	AUD-USD @ 1.0657/60...Bullish
R: 1.0700 / 1.0750 S: 1.0620-00 / 1.0520-00 Aussie is contiuing to trade above 1.0600 and is keeping up our Bullish view intact for a test of 1.0700-50 on the upside. Only a strong break below 1.0600 will trigger further fall. A break below 1.0600 if seen can drag it down to 1.0520-00 in the coming sessions. Fresh buying can be seen in 1.0520-00 levels. Happy Trading!

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