SwissUSD-CHF @ 0.9308/11...Mixed
R: 0.9310 / 0.9355-65 / 0.9400-30
S: 0.9280 / 0.9210

The pair as mentioned in the morning did drift lower towards its significant support of 0.9280 but found support before that and has bounced back since then and is trading in the 0.9310-290 range from today late morning, if Swiss breaks this support a further dip to 0.9210 can be seen but if it holds on to this support then a rise to 0.9365 again and can possibly even scale up 0.9400 where it has its 200 EMA on the daily charts. Thought the chances of it breaking 0.9300-280 support are more we would like to be a bit cautious as the momentum does not seem to be good and we might see it moving in the 0.9400-200 range as well, though an even bigger picture if looked at is undoubtedly bearish.

USD 10K Short at 0.9345, TSL 0.9340 (down from 0.9415), TP 0.9230

Limit Sell Order
Sell USD 10K at 0.9375, SL 0.9440, TP 0.9230
CableGBP-USD @ 1.6137/40...Post 1.6160 the outlook is mixed
R: / 1.6165-80 / 1.6220
S: 1.6080 / 1.6110-30 / 1.6045 / 1.6000-590 /

The pair shot up also helped by the better than expected UK GDP numbers which came at 1% QoQ against expected of 0.60%. Also the short term charts show a bullish H & S pattern the target for which is at 1.6160 which also happens to be a Fibonacci resistance on the daily charts which if broken can then take the pair to 1.6225 in the coming sessions but needless to say we might see some profit booking which can take it to 1.6100 before 1.6160 is seen. We will prefer to keep out of the market as we ae not sure weather 1.6160 will hold or not.

We booked a profit of 60 pips from the Long position entered at 1.6060.

AussieAUD-USD @ 1.0384/87...Rise to 1.0430 is likely
R: 1.0430 / 1.0500 / 1.0540
S: 1.0360 / 1.0285 / 1.0225

The pair rose in the morning but has been trading in the 1.397-380 range since then as it faced resistance at the 1.0400 level. Our view remains the same and we do expect it to touch 1.0430 which is its Fibonacci on the daily charts, if this level is crossed then we can see it moving towards 1.0550 in the coming sessions on the other hand if this resistance is held a fall to 1.0225 would be more likely. As of now the chances of 1.0430 holding are just a bit more than the pair breaking it and moving ahead.

Happy Trading!


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