|USD-CHF @ 0.9315/18...Should move lower|
|R: 0.9335-50 / 0.9400 / 0.9460|
S: 0.9300 /
The pair on the move up faced resistance near 0.9340 which is its channel resistance on the four hour charts and has since retreated, we can see it turning bearish and moving towards 0.9300 and 0.9250 in the coming sessions. The bigger picture still looks to be in the 0.9450-200 range and a dip to lower levels looks likely, though the daily charts is still mixed. Any up move from current levels is expected to meet resistance at 0.9335-50 and then at 0.9400 which should cap the pairs upside.
Limit Sell Order
Sell USD 10K at 0.9375, SL 0.9430, TP 0.9255
|GBP-USD @ 1.6162/65...Can rise further to 1.6225|
|R: 1.6165 / 1.6205-15|
S: 1.6110/ / 1.6080 / 1.5965
The pair broke its trend line resistance on the four hour charts at1.6110 to move up and now is at the 1.6165 Fibonacci level on the daily charts, if it manages to cross this then the upside will be open for a further rise towards 1.6225 and even to 1.6300. The daily charts will also look good if it manages to close above 1.6165. We would avoid trading the pair as going long would be risky as with a many resistances ahead for Cable.
|AUD-USD @ 1.0376/79...A strong move in either direction might be seen|
|R: 1.0380-85 / 1.0430 / 1.0530|
S: 1.0350-40 / 1.0230
The pair after taking resistance in the morning moved lower but soon found support at 1.0355 from where it bounced back again and is at the door step of the same trend line resistance on the four hour charts at 1.0380-85. We are not sure if this resistance will be crossed or will be held and only a confirm move in either direction will decide the further direction. As such the bigger view remains the same that the 1.0600-150 continues to hold, also the pair has not moved below 1.0350 which also points to the strength in it.
This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service