Forex Trading ideas for USD/CHF, GBP/USD and AUD/USD

USD-CHF @ 0.8417/20...Can be volatile.

R: 0.8423 / 0.8460 / 0.8501-21

S: 0.8355-45 / 0.8288

Has been moving sideways since yesterday. A big movement is therefore sure to take place in the next few days. A rise past 0.8525 can take the market up towards 0.86 and higher. A break below 0.8385 can send the Dollar down towards 0.83, maybe lower.We are removing our Limit Sell Orders because post-NFP choppiness can also take out our Stops.

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GBP-USD @ 1.6320/25...Mixed between 1.63-64

R: 1.6350 / 1.6385-95 / 1.6415

S: 1.6285 / 1.6250 / 1.6200

The Pound dipped to 1.6285 and has bounced slightly from there. The bounce can extend up to strong Resistance at 1.6395. A rise past 1.6415, if seen, could make the Pound look bullish again. Failure to rise past 1.6415 could keep the danger of a deeper decline towards 1.62 alive.Although we are tempted to attempt a Long near current levels, it would be safer to buy near 1.6200. Staying out for now.

AUD-USD @ 1.0658/61...Buy dip, if seen

R: 1.0680 / 1.0715

S: 1.0595-75 / 1.0552 / 1.0525

consolidating since theSupport may be firming up in the 1.0600-0550 region. If that holds, a fresh rise towards 1.08+ may be possible. That is one possibility. The other is that the market is ranged between 1.0770 and 1.0500 and can fall towards the lower end of this range. For the moment, the market is consolidating between 1.0600-0700. No trades, staying out. May consider buying on dip to 1.0550-00.Limit Buy Order:

Buy AUD 10K at 1.0525, SL 1.0435, TP 1.0700

Happy Trading!

This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service