USD-CHF @ 0.9266/69...Bearish but can hold on to its 0.9250R: 0.9300 / 0.9350 / 0.9390 / 0.9460
S: 0.9250 / 0.9210 / 0.9180
Swiss gave up some of its ground to briefly trade below 0.9250 but then went back above 0.9250 again. Dollar-Index (80.14) has also held its support near 80.10-00 as expected and is likely to trade in the 80.30-00 range for today. Euro (1.3005) gave a good rise 1.3010 through the day but we can conclude that the resistance at 1.3010 is broken only after it closes above the same. Coming to Swiss no doubt the trend remains bearish and a break of 0.9250 will take it further lower towards 0.9210-180 in the coming sessions.GBP-USD @ 1.6047/50...MixedR: 1.6060-80 / 1.6160
S: 1.5990 / 1.5920-10
Cable continues to look mixed. It has tested 1.6050-60 a few times in this week but has not been able to close above it decisively on the daily charts. A further move in cable will depend on the break of 1.6050 on the upside for a further up move towards 1.6080-160. On the other hand a break of 1.5990 on the down side will put further pressure on the pair for dip towards 1.5910. We would avoid trading Cable till a clearer trend emerges.
AUD-USD @ 1.0422/25...MixedR: 1.0430-35 / 1.0480-500 / 1.0570
S: 1.0400 / 1.0355 / 1.0280
Overall the picture in Aussie has not changed and the view remains the same. The 1.0480-280 range is holding well. The shorter 1.0490-30 range mentioned in the morning seems to be broken on the down side but the bigger 1.0480-280 range continues to hold. The outlook remains mixed and only a break on either sides will give further direction to the pair. We would avoid trading Aussie and Cable till a clear trend in both of them is observed. On the short term charts Aussie has broken the neckline of the bearish SHS and can slide down towards 1.0370. But it is not conclusive enough to enter a short trade as the overall picture still is mixed.
This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service