FX Thoughts for the Day

USD-CHF @ 1.0429/33...Bearish for 1.0290

R: 1.0454 / 1.0490-0500
S: 1.0398 / 1.0351 / 1.0310-0280

Looking quite bearish, with potential for a fall towards 1.0290. Resistance at 1.0450. Look to sell if you want. Not Long at all.

GBP-USD @ 1.9456/60...Could fall towards 1.9330

R: 1.9542 / 1.9602-33
S: 1.9420 / 1.9375 / 1.9279

The Cable is now trading below 1.9500, at a very crucial Support level. If this breaks, a fall towards 1.9330 is possible. A rise past 1.9540 would be needed to cast a doubt/ negate the downside.

AUD-USD @ 0.9387/91...Long-term view

R: 0.9416 / 0.9440 / 0.9512
S: 0.9340-30 / 0.9292

The Aussie is likely to continue to trade sideways between 0.9330-9530 for some more days, possibly for a few more weeks. In the longer term, it is gearing up for a big move of 300-500 points, which could see it either rise towards 1.00 or fall towards 0.90. This might be a time to start paying Aussie Vols, as they are quite likely to increase in the months ahead.

Kshitij Consultancy Service
http://www.fxthoughts.com

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These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsibly for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.