|USD-CHF @ 0.9355/58...Ranged|
|R: 0.9390-410 / 0.9460|
S: 0.9350 / 0.9260 / 0.9120
The pair has not done much through the day and has been flat to negative and continues to trade in its 0.9410-9330 and looks good for a dip towards its lower end of the range soon. The overall picture remains bearish for a break of 0.9330-00 and lower levels of 0.9250 and 0.9120 can be seen in the coming days, the break will come either today or in the coming days has to be seen. On the upside it has good resistance at 0.9410 and 0.9460 which are expected to hold and should cap the pairs upside with a good opportunity to sell the pair at these levels.
Limit Sell Order
USD 10K Short at 0.9400, SL 0.9465, TP 0.9330
USD 10K Short at 0.9455, SL 0.9500, TP 0.9205
|GBP-USD @ 1.6121/24...Mixed, overly bearish|
|R: 1.6120 / 1.6160 / 1.6250|
S: 1.6080 / 1.6020 /1.5980
The up move after it took support at 1.6050 continues with today’s low also being the Fibonacci support of 1.6080. The bigger picture remains bearish for a break of 1.6080-50 and a move towards 1.0600 which seems to be its next target, but the time of break if difficult to predict. If it is unable to break 1.6080 on the down side there are slim chances of a bounce to 1.6160 and even to 1.6250. BOE keeps rates unchanged at 0.50%. We may see the pair moving on ECB rates news.
Limit Sell Order
Sell GBP 10K at 1.6160, SL 1.6210, TP Open
|AUD-USD @ 1.0221/24...bounce can still be seen|
|R: 1.0230 / 1.0330 / 1.0370|
S: 1.0200 / 1.1100 / 1.0000
The pair continues to trade in the 1.0240-180 range from yesterday, no doubt the bigger trend is bearish and we expect it to move lower towards 1.0100 but prior to that a bounce to 1.0280 cannot be ruled out, 1.0230 is an important level to watch for and a close above will give some strength to short covering. The pair can see sold on rallies to 1.0270-300 with tight stop.
This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service