Vikram Murarka
Kshitij Consultancy Services
USD-CHF @ 0.9297/300...Mixed
R: 0.9340 / 0.9385 /
S: 0.9295 / 0.9240
Dollar-Swiss has traded sideways between 0.9330-0.9220 from the past few days. The outlook is unclear and it is advised to stay out of the markets. But having said that while it stays above 0.9280-70 a further upside towards 0.9390 can be seen.
GBP-USD @ 1.5155/58...Can fall if 1.5200 is held
R: 1.5225 / 1.5320 /
S: 1.5165 / 1.5110
Cable tried moving up but is facing resistance near 1.5200-15 levels. The bigger trend remains bearish and a failure to rise past 1.5200-15 will be a signal that the short covering is loosing steam and a fall towards 1.4850 can well be seen in the coming days. A rise above 1.52 can push it further towards 1.5250-300.
AUD-USD @ 1.0253/56...Needs to break 1.0230 to fall further
R: 1.0315 / 1.0355-75
S: 1.0230 / 1.0150 / 1.0035
Aussie as expected has drifted lower towards 1.0230 which is its important support on the daily charts. Chances of this breaking are more and a further down side towards 1.0150 can be seen. If at all a bounce is seen from 1.0230 then it can rise all the way towards 1.0375.
Happy Trading!
The above views are based on the latest available information. Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. While the views are proffered with the best of intentions, neither the author, nor the firm are liable for any losses that may occur as a result of any action based on the above. 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.
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.