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FX Thoughts - Evening II - 28-Feb-2013 Evening Edition 1812 IST or 1242 GMT or 0742 EST

USD-CHF @ 0.9303/06...Ranged/Positive

R: 0.9340-50 / 0.9375 S: 0.9245-40 / 0.9210-00 Dollar-Swiss dipped to take support near 0.9280 from where it has bounced back. The outlook remains positive for the pair and we expect it rise further towards 0.9375 in the coming sessions. It has immediate support near 0.9280 and a good support is at 0.9240-30 levels which should be able to hold any further dip if seen. Also as mentioned in the morning it seems to be trading in the 0.9350-0.9230 range. It is advised to stay out of the markets.

	GBP-USD @ 1.5204/07...Mixed
R: 1.5220 / 1.5270 / S: 1.5090-80/ Cable has risen a bit and currently trading just near 1.5200 levels. If it manages to break its resistance of 1.5225 then it can rise further towards 1.5270-300 levels. On the other hand a dip from here can then result in a dip towards 1.5080, may be even lower. Looks evenly placed for each of them, advised to stay out of the market.

	AUD-USD @ 1.0259/62...Bigger trend remains bearish
R: 1.0300 / 1.0375 S: 1.0230 / 1.0180 / 1.0030 Aussie has risen from 1.0180 levels and can rise further towards 1.0300 levels in the near term. The bigger trend remains down, though in the shorter term it can trade in the 1.0180-375 range or a 1.0180-300 range. We would be biased for a down side move after it takes resistance near 1.0300 or 1.0370 levels. Happy Trading!

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