SwissUSD-CHF @ 0.9370/73...A further rise to 0.9400-30 looks likely
R: 0.9410 / 0.9440 / 0.9460
S: 0.9360 /0.9340/ 0.9300 / 0.9275

AS mentioned in the morning that there a re fair chances of the pair moving up further as it has crossed it channel resistance turned support, it currently has taken resistance at 0.9380 but it is expected to be broken for a further rise to 0.9400-30 which would be the upper range resistance on the daily charts. There after we can see it taking resistance and then retreating to lower levels, hence we would prefer to sell the pair on a rise to 0.9400-30. The Euro has also dipped below its trend line on the daily charts and a further dip to 1.2830-00 is likely hence we can see a rise in Swiss to about 0.9400-30.

Limit Sell Order
Sell USD 10K at 0.9395, SL 0.9450, TP 0.9310
Sell USD 10K at 0.9430, SL 0.9475, TP 0.9330
CableGBP-USD @ 1.6087/90...Weak
R: 1.6120 / 1.6160 / 1.6225
S: 1.6080 / 1.6020 / 1.5990

The pair did trade sideways after evening and also went up to 1.6108 which was another opportunity to sell the pair. On the down side if it breaks 1.6080 then a further dip to 1.6020 and to 1.5990 can be seen. The daily charts has also started to look bearish provided it does not close above 1.6100. On the upside 1.6120 should act as a good resistance and should cap any up move if at all seen. There are also chances that it remains sideways in the 1.6110-6080 range before a further fall.

AussieAUD-USD @ 1.0372/72...Mixed, but can slide down to 1.0350
R: 1.0380 / 1.0430 / 1.0530
S: 1.0350 / 1.0225

The pair is trading just above its crucial support of 1.0375 which will decide the future direction of the pair, a close below will mean that it turns bearish and slides down to 1.0350 and 1.0235 in the coming days. And at the same time a strong move above 1.0400 will mean that a further rise to 1.0430 and 1.0550 acn be seen. But the preferred direction for me will be down so a slight bias for dip remains.

Happy Trading!


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