|USD-CHF @ 0.9425/28...Mixed|
|R: 0.9450-60 / 0.9510 / 0.9610|
S: 0.9410-00 / 0.9340 / 0.9300
The pair has moved towards 0.9460 which is its trend line resistance on the daily charts but since then has retreated after facing resistance near 0.9460. Currently it is tough to say if the pair will break 0.9460 or will come lower but now that the candles on the short term charts look indecisive it gives a slight hint about the probability of the pair correcting towards 0.9400 soon. The bigger 0.9450-200 range continues to hold till the time a strong break of 0.9450 is not seen. On the down side we can see it taking support at 0.9400 and 0.9375.
We got stopped out of the Short position entered at 0.9395 losing 55 pips
|GBP-USD @ 1.5988/91...Likely to dip lower in the range|
|R: 1.6000 / 1.6060-80 / 1.6160|
S: 1.5980 / 1.5910 /
The pair moved up to wards 1.6000 where it faced Fibonacci resistance on the daily charts and seems to be slipping again. We have mentioned in the morning that the pair is in a range of 1.6200-5900 and it is looking good to dip to the lower end of it in the near term. We can now see Cable moving towards 1.5900 soon. Any rise from current levels is expected to face resistance at 1.6000 and 1.6080. We would be staying out of the market as entering in between the range can be risky and chances of being stopped out in either direction are high.
|AUD-USD @ 1.0437/40...Looks good rise further up|
|R: 1.0475-90 / 1.0520|
S: 1.0430 / 1.0375 / 1.0330
The pair after a strong move in the morning after the RBA announcement has refused to bug down as it continues its stay strong and does not seem to correct any bit, any dip towards 1.0400 will be a buying opportunity. The pair has been below its 1.0430 and 1.0400 levels which it seems to have broken on the upside ad can now extend towards 1.0520 in the coming sessions. The down side is expected to be sealed at 1.0400 and 1.0370 which are its immediate supports on the down side.
Limit Buy Order
Buy AUD 10K at 1.0426, SL 1.0355, TP 1.0515
This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service