|USD-CHF @ 0.9484/87...Bullish for a rise to 0.9550-600|
|R: 0.9550 / 0.9600|
S: 0.9440 / 0.9400
Dollar Swiss remains higher and strong above 0.9400. The view is bullish for a rise to 0.9550 or even 0.9600. The Euro is also looking weak and can fall to 1.2650 and this could support the rise in the Dollar Swiss to 0.9550-600. The pair is looking strong and any sharp pull back can get very good Support near 0.9400.
|GBP-USD @ 1.5942/45...Can find support just above 1.5900|
|R: 1.5970 / 1.6030 / 1.6080|
S: 1.5910-00 / 1.5880 / 1.5810-00
The pair slipped during the day and currently trades near its 1.5950 support keeping the bigger picture of 1.6200-5900 range a break of 1.5950 is seen dips to 1.5900 are expected to be bought and the 1.6200-5900 range is expected to continue. But keeping in mind that the Euro is weakening we would like to wait and see the weekly closing before we enter a long trade in Cable. Going up Cable can see good resistance at 1.5970 which can well be broken for a further rise to 1.6030.
|AUD-USD @ 1.0392/95...Continues to trade in the 1.0480-380|
|R: 1.0430 / 1.0480 / 1.0520|
S: 1.0380-75 / 1.0335 / 1.0300 / 1.0225
The pair could not break the 1.0480-380 range as it faced resistance inside the range itself at 1.0430 and fell back and currently trades at the lower end of the range near 1.0380-75. The picture on the daily is becoming more and more inconclusive but the bias will remains slightly positive till 1.0380-75 is in place. A break of 1.0480 can then take the pair to 1.0520 on the upside while if range breaks below 1.0380-75 contradictory to our expectation we can see a good fall towards 1.0225 as well.
This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service
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