|USD-CHF @ 0.9263/66...Can still rise to 0.9300|
|R: 0.9300-25 / 0.9400 /|
S: 0.9210-00 / 0.9100
The pair has risen a bit as mentioned in the morning the view remains the same and we can expect a further rise towards 0.9300 which is expected to be a significant resistance on the daily charts, also the fact that Swiss has broken down quite a bit in this week might just spark a bit of short covering. 0.9300 would be a good selling level as the bigger trend continues to be bearish for a further fall towards 0.900 in the coming days which happens to be a trend line support on the monthly charts ass well as the target for the triangle on the daily charts.
|GBP-USD @ 1.6046/49...Bearish|
|R: 1.6090 / 1.6160 / 1.6235|
S: 1.6000 / 1.5910
The pair has not done through the day as it faced resistance at 1.6067 on the rise to 1.6090 which is its resistance on the short term charts. Cable also has resistance at 1.6080 on the daily charts below which the pair will remain under pressure. We can now expect a further fall in the pair towards 1.6000 and even 1.5910 that we have been mentioning from a few days, we thing the trend in the near and the medium term has turned bearish and will remain so till 1.6160 is held. Selling on rise to 1.6090 is advised with a tight stop above 1.6125-30. The upside looks to be sealed at 1.6090.
|AUD-USD @ 1.0364/67...Bearish|
|R: 1.0375 / 1.0430|
S: 1.0325 / 1.0260
The pair continues to trade below its all important level of 1.0375 which is its Fibonacci level on the daily charts and remains under pressure and is expected to dip towards 1.0325 and 1.0260 in the coming sessions if it manages to stay below 1.0375. The slightly bigger trend also is a bit mixed but will get clear once Aussie breaks 1.0375 on either side, a break above will be bullish for a further rise towards 1.0550 and a break below will be bearish for a further fall towards 1.0230 and even 1.0160 in the coming week. If a a short trade has to entered has to entered it advised to enter below 1.0350 as it could be immediate support which can give a bounce for the pair in the short term.
This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service