|USD-CHF @ 0.9459/62...Looks good to break the range on the up side|
|R: 0.9500 / 0.9550 / 0.9610|
S: 0.9460 / 0.9400
The pair moved up breaking above its 0.9460 significant level and if closes above this we can see it moving further up towards 0.9610 which would be our target, thus changing our view, but the condition is that it should close above 0.9460 for the day. On the other hand if it manages to give up its gains and closes in the 0.9450-200 range then we can expect the ranged move to carry on for the coming sessions. We will have to wait and watch as to where the markets close today. The Euro has already broken its 1.3175-2750 range on the down side and bias is that Swiss will break it 0.9460-200 range on the upside.
|GBP-USD @ 1.5954/57...Slide to 1.5900 is quite likely|
|R: 1.5980 / 1.6035 / 1.6080 / 1.6160|
S: 1.5910-00 /
The pair traded in the 1.6045-5955 range for the beginning for this week but today it gave a break on the down side which can also be regarded as a break below the rectangle formation on the short term charts and is likely to move towards 1.5900 in the immediate term. The bigger picture remains ranged with 1.6200-5900 range continuing to hold. We will have to wait and see if 1.5900 holds or breaks which would then give further direction to it. The upside now seems to be capped at 1.5970-80 which seems to be a descent resistance for the pair going up.
|AUD-USD @ 1.0415/18...Stuck in the 1.0430-385 range|
|R: 1.0430 / 1.0430 / 1.0520|
S: 1.0385 / 1.0320 / 1.0300 / 1.0225
The pair seems to be trading in the 1.0430-385 range on the short term charts and the presence of a trend line on the daily charts suggests that the break would be on the upside. Looking at the daily tells us that the candle for today is indecisive but the bias remains for a break on the upside above 1.0430 which can then target 1.0520 in the coming sessions. 1.0620-150 range continues to hold if looked at an even bigger picture.
AUD 10K Long at 1.0426, SL 1.0380 (Up from 1.0355), TP 1.0515
This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service
Join the Discussion