SwissUSD-CHF @ 0.9416/17...Can rise to 0.9460-500 if stays above 0.9400
R: 0.9460 / 0.9510
S: 0.9355 / 0.9300

The pair has traded side ways in the 0.9380-270 range before finding support at lower levels near 0.9300 on the dip and bouncing back sharply 0.9400 as the NFP data came better than expected and we saw the Dollar strengthening against all the currencies. The pair has given a good break above 0.9400 with a strong candle and if manages to stay above 0.9400 then it can extend its move towards 0.9460 and even to 0.9500. At the same time if we see a break below 0.9400 in case the 0.9430-200 range holds itself in the coming days a dip towards 0.9355 and even to 0.9325-00 can be seen in the coming sessions. So we would like to wait and watch as to how the pair opens on Monday. Looking at Euro it still has room for further down move towards 1.2800-2765 that is about 65 pips lower from current levels of 1.2830 which can push Swiss to 0.9430-60 which is its trend line resistance on the daily charts.

Holding:
USD 10K Short at 0.9395, SL 0.9450, TP 0.9310
CableGBP-USD @ 1.0619/22...Sell on a rise to 1.6100
R: 1.6070-80 / 1.6160 / 1.6220
S: 1.5990 / 1.5915-00 /

The pair had a rather volatile week a it first dipped to take support at 1.6000 after which it saw a bounce to 1.6175 but faced resistance at 1.06160 which is its Fibonacci level on the daily charts and it could not close above this level and fell sharply on Friday towards 1.6000 again. The fall has been very sharp and the chances of it retreating towards 1.6080 on the back of short covering are always their, so in the coming week there is a good chance that the pair rises to 1.6080 and then falls again towards 1.6000 which if broken can then slip further towards 1.5910 in the coming sessions. Also a weekly closing below 1.6050 is a bearish signal and the momentum can definitely shift towards the bears. The pair might give good opportunities to short the pair on a bounce towards 1.6100. The bias for the week remains bearish but only after a bounce towards 1.6100 levels.


 
AussieAUD-USD @ 1.0360/63...Bearish for a fall towards
R: 1.0350 / 1.0375 / 1.0430
S: 1.0225 / 1.0150 / 1.0100 / 1.0030

The pair was positively biased through the week as seen from the daily charts which had a trend line on the daily charts which it broke on Friday; it faced good resistance near 1.0380 levels on a consistent basis and finally gave way for a sharp fall below its significant level of 1.0375 and 1.0350 (trend line on the daily). In the coming week the bias remains bearish for a fall towards 1.0235-25 which is its Fibonacci on the daily charts. The weekly and the monthly charts also point to the fact that an up move is not likely and we can see it being weak against the dollar in the coming days which can take it much lower towards 1.0000 and even to 0.9890 if it breaks 1.0150 which would mean that its 1.0600-150 range will be done with.

Limit Sell Order
Sell AUD 10K at 1.0420, SL 1.0470, TP 1.0250



Happy Trading!

 

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