SwissUSD-CHF @ 0.9387/90...Resistance ahead at 0.9410R: 0.9410 / 0.9460
S: 0.9375 / 0.9300 / 0.9260

The pair found support exactly at 0.9375 which is its trend line support on the daily charts and rose towards 0.9400 from where it seems to be slipping now. If on the down move it breaks 0.9375 it can open doors for a further fall to 0.9300 in short period. There is still no confirmation that it will not break 0.9400 and move towards 0.9460 but the 200 EMA present at 0.9400 has held well till now which does suggest that the bearish trend should continue from here it self but only after a strong break of 0.9375. Our view regarding the bigger picture remains the same and chances of eventual fall to 0.9300 and 0.9120 seems eminent.

Sell USD 10K at 0.9415, SL 0.9475, TP 0.9250
Sell USD 10K at 0.9460, SL 0.9510, TP 0.9300

CableGBP-USD @ 1.6214/17...Ranged
R: 1.6220 / 1.6260 /
S: 1.6160 / 1.6080/ 1.6200

The pair again tests its support of 1.6160 and bounces back above 1.6200 ruling out the possibility of the going down in the afternoon. A further up move can only be seen on a convincing break above 1.6220 which can lead to a further gain towards 1.6300 and 1.6380 which are good resistances on the weekly charts. So the ranged and indecisive movement of Cable continues and also the pair is continuing to make indecisive candles on the daily charts. We need to see where it closes today. The down side is safe till it does not breach 1.6160 and the range movement can continue for the week as the momentum look weak.

AussieAUD-USD @ 1.0418/21...Bearish on the break of 1.0400
R: 1.0435 / 1.0470
S: 1.0400 / 1.0.375 / 1.0330 / 1.0230

The pair moved above its neckline on the four hour chart and carried it self all the way towards its down trend line resistance of 1.0425 which has held in the intraday trading. It has been oscillating near its neckline of 1.0400 and currently is above it. A further rise to 1.0430 can be seen which would be a crucial level to be watched, a close above it can make the immediate term outlook to be bullish and a further rise to 1.0470-500 can then be seen. On the other hand a break below 1.0400 can then continue its bearish move to 1.0370 and 1.0330.

AUD 10K short at 1.0395, SL 1.0455, TP 1.0320
As soon as the market trades 1.0360 bring SL to 1.0430,

Happy Trading!


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