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 @ 1.1730/34... Could slip towards 1.1600
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R: 1.1800-25 / 1.1870 / 1.1950 / 1.2000
S: 1.1700 / 1.1600 / 1.1550 / 1.1500
The pair has seen a dip in the day to the Support at 1.17, mentioned in the morning report. The day ahead is likely to see the pair remain ranged between 1.17 and 1.18 unless the Support at 1.17 breaks. The pair has been ranged within the overall wide range of 1.1550-1.1800, and as the Resistance at 1.18 holds strong it is likely to persists for the week ahead as well.

A break below 1.1700, which could be possible during the US session could see some further selling pressure which is likely to drag the pair lower towards 1.1600. The SNB has cut interest rates intra-meeting yesterday, by 50-bps to lower the rates to 2.00%. The link to the chart is given below: http://www.kshitij.com/fundamentals/funcharts/snb.shtml

 
 GBP-USD @ 1.5765/69... Range could develop.
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R: 1.5750 / 1.5800 / 1.5900 / 1.5970
S: 1.5700 / 1.5660 / 1.5550-00 / 1.5260
As long as the Resistance at 1.6050 holds the pair could remain pressured lower in the medium term. However, importantly there is an important Support on the pair at 1.55 which could result in a wide range in the near term. Only a breakout above/below the mentioned levels would set the momentum for the Cable going ahead.

As long as the range of 1.55-60 holds, we may see the pair vacillate with minor Support at 1.5700 and 1.5600, while Resistance could be faced on a rise towards 1.5825-50 and 1.5925. However, do keep an eye over US NFP which could bring some volatility in the market. To see the US NFP charts click: http://www.kshitij.com/fundamentals/funcharts/usnfp.shtml

 
 AUD-USD @ 0.6700/04... Could be pressured below 0.6720
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R: 0.6720-50 / 0.6825 / 0.6870 / 0.6900-25
S: 0.6660 / 0.6600 / 0.6520 / 0.6450
The pair continues to face Resistance on a rise to 0.6730-50. As a result the pair was pressured lower to 0.6640 during the day.

For now, the pair trades above 0.6700 and as long as the level holds, a rise above 0.6750 could be possible, with an outside chance of testing 0.6850 on the upside. Overall the pair is likely to trade within a wide range between 0.6500-0.7000 over the next week as well.


Happy Trading!