FX Thoughts for the Day

USD-CHF @ 1.0599/602...Holding Long

R: 1.0641-50 / 1.0679-99 / 1.0742-67
S: 1.0542-36 / 1.0500-496 / 1.0445

As per our expectations, Swiss has bounced back from the Support region at 1.0542-36 and we may now expect the pair to move up towards the Resistance region of 1.0641-50 followed by a fall towards 1.0600 in the US Session today. We are holding long at 1.0560. Though we expect the Resistance (1.0641-50) to hold for the coming session, a break above it may push the pair towards 1.0679-99.

In the coming days we may see the pair break above Resistance at 1.0650, which may push it towards 1.0700-800. However, a failure to break above 1.0650 may again pull it towards 1.0500, though we see less chances of the latter.

Holding Long:

USD 10K ong @ 1.0560, TSL 1.0580 (up from 1.0470), TP 1.0630

Cable GBP-USD @ 1.5145/48...Might dip further

R: 1.52 / 1.5250-70 / 1.5290-99
S: 1.5100-1.5095 / 1.5060 / 1.4969

Cable has broken below 1.52 as expected and recorded a low of 1.5128 in the Asian session today. The overall bearish sentiment is still intact. We expect it to trade below 1.52 in the Us session and a break below 1.51 might pull it further down towards 1.50 in the coming sessions.

On the upside 1.5250-70 is a significant Resistance region seen above 1.52 which is expected to hold if a break above 1.52 is seen in the US session today.

Aussie AUD-USD @ 0.9195/98...Prepairing for a downmove

R: 0.9239-50 / 0.9294-305 / 0.9350
S: 0.9178-65 / 0.9143-27 / 0.9104-086

Aussie traded lower in the European Session before testing the Resistance at 0.9239-50. We may now see the pair test (or dip slightly below) the Support region at 0.9178-65 in the US Session today. There are less chances of a strong upmove towards 0.9239-50 today.

We may see the pair trade below 0.9200, which may pull it towards 0.9100 or even 0.9000 in the coming weeks. However, we see less chances of the pair appreciating strongly above 0.9200.

Limit Sell order:

Sell AUD 10K @ 0.0.9240, SL 0.9330, TP Open

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

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