SwissUSD-CHF @ 0.9405/08...Likely to test 0.9460
R: 0.9460 / 0.9550 / 0.9610
S: 0.9400 / 0.9480-60 / 0.9330 / 0.9300

The pair after breaking above 0.9400 has traded sideways but has managed to trade above 0.9400 after testing its channel support at 0.9400 on the daily charts. If the pair manages to stay above the channel and 0.9400 we can expect it to move towards 0.9460 soon. On the other hand any dip below 0.9400 is expected to find good Support in 0.9380-60 region. We would avoid to trade the pair before any clear trend emerges out.
CableGBP-USD @ 1.6018/21...Can bounce to 1.6050-80
R: 1.6050-80 / 1.6125 / 1.6170
S: 1.5910 /

The pair has been trading in the 1.5975-6025 range from yester day and the range support at 1.5975 is holding well, as long as this support holds we can expect the pair to move up towards 1.6050-80 which is a descent Resistance on the daily charts and should cap the pairs upside. The immediate bigger trend seems to be bearish but some bounce from current level towards 1.6050-80 cannot be ruled out before the bearish move continues likely.

AussieAUD-USD @ 1.0247/50...Likely to rise to 1.0270 and 1.0330.
R: 1.0330 / 1.0330 / 1.0370
S: 1.0175-50 / 1.0100

The pair after taking support at 1.0150 has bounced back and can extend its move further towards 1.0275 and possibly higher to 1.0330, as mentioned in the morning the bigger picture is bearish for a fall to 1.0100 and 1.0000 in the coming days but only after we see some rise towards 1.0275-330. Post 1.0330 we can see a dip again and the pair can continue the bearish trend. On the other hand if 1.0330-70 is broken a further up move towards 1.0560 can also be seen which is a trend line resistance on the daily charts.

Happy Trading!


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