|USD-CHF @ 0.9282/85...Bearish|
|R: 0.9300-30 / 0.9400 / 0.9460|
S: 0.9250-40 / 0.9210-00
The pair after trading in the 0.9330-00 range broke on the down side and now looks good to move towards its next support of 0.9250-40 and the picture on the daily charts also looks bearish which supports the view on the short term charts. After it takes support at 0.9250-40 we can see it bounce to 0.9300-10 but the bigger picture looks bearish and there after a fall to 0.9200. The upside now looks capped at 0.9300-30 which is also supported by a strong Euro.
|GBP-USD @ 1.6116/19...should hold 1.6160 to move further up|
|R: 1.6160-70 / 1.6220|
S: 1.6080 / 1.6020 / 1.5910
The pair faced a lot of resistance at 1.6080 but eventually managed to cross the same and now is trading above 1.6100 but has a series of resistances ahead and is also trading at the channel resistance on the short term charts. The upside can extend towards 1.6160-70 and even to 1.6220 which are resistances on the short term and the daily charts, but for this it should sustain above 1.6100. The bigger picture says that if 1.6220 is crossed then Cable can become quite bullish and can extend further to 1.6300. On the other hand if 1.6100 is broken on the down side then it can still move lower towards 1.6020 and even to 1.5980-70.
|AUD-USD @ 1.0391/94...Has to sustain above 1.0390 for a further rise|
|R: 1.0430 / 1.0530-50|
S: 1.0385-80 / 1.0335-30 / 1.0230
The pair managed to move above its trend line resistances on the short term charts (1.0480-90) which are now its supports, but is currently showing indecisive candles on the short term charts and a break below 1.0375 which can then take it to 1.0340-30 which his its trend line support on the short term charts. The bigger picture as of now is mixed but a strong rise past 1.0400 and a close above the same on the daily charts can only make it bullish for a further rise to 1.0430 and 1.0530. But we feel that it will correct if it break below its support of 1.0375 and can take support of 1.0340-30.
This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service
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