SwissUSD-CHF @ 0.9345/48...Sell Rallies
R: 0.9350 / 0.9400-20 / 0.9460
S: 0.9300 / 0.9250 / 0.9145

Dollar-Swiss is still looking weak overall. Although it found good Support near 0.9250 last week, it is not gaining strength to rise strongly above 0.9300. Resistance is seen at 0.9300 and then strong clusters of Resistances seen in the broad 0.9400-60 region. Note that the 200-DMA is at 0.9400. Rallies to 0.9420-60 can be sold as we expect a pull back from there. The downside is open for a test of 0.9150 and 0.9120-00 which are the important Support levels seen on the monthly charts.

Limit Sell Order:
Sell USD 10K at 0.9420, SL 0.9475, TP 0.9250
Sell USD 10K at 0.9460, SL 0.9510, TP 0.9300
CableGBP-USD @ 1.6214/17...Outlook not clear
R: 1.6300 / 1.6400 / 1.6500
S: 1.6150 / 1.6050 / 1.5900

Cable has closed mixed for the week leaving the outlook to be unclear for the coming week. The important Support at 1.6160 has held very well but at the same time the pair has failed to rise past 1.6300 strongly. The further direction of move will be confirmed only after we see a breakout on either side of 1.6150-6300. An upside break above 1.6300 will target 1.6400-500-600 on the upside while a downside break below 1.6150 would be very bad and it could keep the pair in its broad 1.5250-6300 sideways range. Having said this, while below 1.6300, there is a threat of seeing a sharp fall to 1.5250 in the coming weeks.
 
AussieAUD-USD @ 1.0415/18...Sell rallies
R: 1.0500 / 1.0570 / 1.0620-40
S: 1.0400 / 1.0350 / 1.0300-280

Aussie is looking mixed and broadly ranged between 1.0100 and 1.0630. But within this range our bias is bearish as we see strong Resistances at 1.0570 and 1.0630. Also the pair is not gaining strength to rise past 1.0500 now after having fallen from the high of 1.0624. As such rallies to 1.0570-600 can be sold with stop above 1.0640. On the downside 1.0350 is an important Trendline Support and 1.0304 and 1.0289 are the 100 and 55-Week-MA Supports which needs to be watched. The bigger picture is weak and we will be looking to sell on rallies.

Limit Sell Order:
Sell AUD 10K at 1.0580, SL 1.0650, TP Open



Happy Trading!

 

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