|USD-CHF @ 0.9319/22...Continues to be weak|
|R: 0.9345-55 / 0.9400 / 0.9460|
S: 0.9300 / 0.9250 / 0.9200
The pair dipped further through the day and the fact that it could not rise to 0.9400 also shows the inherent weakness in the pair, we can now expect it to continue to move towards 0.9300 which is its support on the daily charts. A slightly bigger picture also suggests that it is ranged between 0.9435-300 which is more likely to break on the down side. Currently we can expect the pair to close the week near 0.9300, on a move up we can see it rising to 0.9345-55 and 0.9400 which will cap the pairs upside.
|GBP-USD @ 1.6080/83...Can rise further to 1.6080-120|
|R: 1.6080 / 1.6160 / 1.6200|
S: 1.6050 / 1.5990 / 1.5910
The pair further gained crossing its resistance of 1.6050 and looks good to rise further towards 1.6120 and 1.6160, though the up move is expected to be short lived and we expect it to take resistance and move lower again probably from 1.6080-120. The bigger picture looks a bit bearish and the fall is expected to resume after this current up move halts. The move lower seems to be coming only after this leg up that it is witnessing currently.
|AUD-USD @ 1.0250/53..A further rise to 1.0330-75 seems possible|
|R: 1.0335 / 1.0375|
S: 1.0230 / 1.0175
The pair through the day has not done much but has now retreated after taking resistance at 1.0290 but has been rising through the week an can take support at 1.0230 and can rise to 1.0335 and 1.0375 levels before it moves lower. The bigger picture is ranged in 1.0630-160 and a significant resistance will be encountered at 1.0375 which will then decide weather we see it continuing to move towards 1.0630 or it dips to 1.0000 in the next week. The down side seems to be capped at 1.0230 b and we can see a rise towards 1.0375 in the coming days.
Limit Buy Order
Buy AUD 10K at 1.0235, SL 1.0195, TP 1.0290
This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service