FX Thoughts for the Day

USD-CHF @ 1.0836/40...Ranged

R: 1.0910 / 1.0953-63 / 1.1001
S: 1.0824 / 1.0802 / 1.0763

Dollar-Swiss had risen towards 1.0894 during the day as the Resistance near 1.09 weighed on the pair. It continues to oscillate between the range of 1.0763-1.0913 and is now moving towards the lower end of the range. Till the range continues to hold, one may buy dips and sell rallies. To see the chart of Swiss, click on: http://www.kshitij.com/graphgallery/chfcandle.shtml#candle

Limit Sell Order:

• Sell USD 10K at 1.0880, SL 1.0930, TP 1.0790

Cable GBP-USD @ 1.6436/40...Range: 1.6233-1.6500

R: 1.6450 / 1.6536 / 1.6825
S: 1.6401 / 1.6365-51 / 1.6306-6279

Cable has risen towards 1.6450 during the day once again as the Support of the 21-DMA (1.6233) has held. Here again till the pair is above the 21-DMA, we would expect a range of 1.6233-1.6500 during the day and would like to enter near the 21-DMA. However, as mentioned in the morning, a break below 1.62 would be bearish for a fall towards 1.5850 in the medium term. To see the chart of Cable, click on: http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle

Limit Buy Order:

• Buy GBP 10K at 1.6250, SL 1.6200, TP 1.6350

Aussie AUD-USD @ 0.8062/65...Looks bullish

R: 0.8146 / 0.8253 / 0.8320
S: 0.8010-7988 / 0.7904 / 0.7819-7797

Aussie looks bullish for a rise towards 0.8250 over the next few days having broken past the 0.80 mark. Also, it has risen beyond the Resistance at 0.8050-60 mentioned in the morning and makes us believe that the Aussie could possibly rise towards the Projected Max High for the day which is at 0.8146. Howeverm if during the US session, it falls below 0.80, we shall have to believe that the pair is in a broad range of 0.78-82. Though at the moment, we anticipate that the Support at 0.7988-0.8010 shall hold going forward.

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.