EURO, JAP YEN and EURO-YEN
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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USD-CHF @ 1.1200/03....Support at 1.1189-88
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R: 1.1230 / 1.1270 / 1.1300-01
S: 1.1189-88 / 1.1150 / 1.1100
USD-CHF has seen a sharp break during the day to a low of 1.1187, its lowest since Apr-1995. However, 1.1189-88 is an important Support intraday, which has the potential to hold for the next few hours. Even a small bounce could be seen, which should be used to sell into. Note that the statistically projected Max Low for the day is at 1.1188. A break below 1.1180 could result in fresh fall towards 1.1100 in the week.

For today the Resistances are at 1.1230 and then at 1.1270. The bias for the pair is bearish, and a selling can be considered on a sustained break below 1.1180.


 GBP-USD @ 2.0674/78....Towards 2.0600
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R: 2.0710 / 2.0760
S: 2.0650 / 2.0600 / 2.0523
GBP-USD has come off sharply form its high of 2.0845 intraday and is now possibly headed towards 2.0600. Immediately, the Support is expected at 2.0650. A break below 2.0600 is also a possibility in the next 24 hours. On the upside the Resistance is at 2.0710 and 2.0760.

EUR-GBP has rallied sharply in the last few days and is currently is currently near an important Resistance of 0.7110, the Dec-2004 high. A move above that could lead to a rally towards 0.7200 in the next few days.


 
 AUD-USD @ 0.9037/42...Ranged within 0.9120 and 0.8950
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R: 0.9077-80 / 0.9120
S: 0.9020 / 0.8980 / 0.8950
AUD-USD is continuing with its morning rally, and currently seems to be headed towards 0.9077, the statistically projected Max High for the day. Above that the BIG Resistance would come in at 0.9117-20, on the trendline on the 4-Hourly joining the highs of 0.9403 (07-Nov) and 0.9324 (09-Nov). A rally above the latter would indicate that the current correction is over. However, a rally above 0.9120 is unlikely over today or tomorrow, and a 100 pip decline may be seen before that.

On the downside, the immediate Support is at 0.9020, at 0.8980 and then at 0.8950. A break below the latter would trigger a fall towards 0.8800 once again. The current boundaries for the market are defined within 0.9120 and 0.8950, and sustained moves on either side would be used to enter trades in the direction of the breakout.


Happy Trading!