USD-CHF @ 1.1225/30...Ranged
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R: 1.1252 / 1.1306 / 1.1352
S: 1.1195-80 / 1.1150 / 1.1069-59
Swiss has remained ranged during the day. It moved between 1.1149-1.1226 during the day and hence our limit buy order could not be executed. Not much action is expected during the US session, as US holidays today. Swiss retail sales numbers having come a tad lower than expectations, did not impact the rates substanitially. Not many data during the day and lesser participants could see the pair sail thorugh in a silent fashion for the rest of the trading day.

Over the next few days, the range of 1.10-1.13 looks likely to hold. 1.1250-1.1300 is a strong Resistance region for the pair which contains the 8-week MA, 38.2% retracement of the rise from 0.9637 (Mar 2008) to 1.2300 (Nov 2008), 100-week MA, 13-MA on the 3-day charts. However, immediately, there's Support near 1.1125 (200-MA on the hourly chart). To see the chary of Swiss, click on: http://www.kshitij.com/graphgallery/chfma.shtml#ma
 
 
GBP-USD @ 1.4644/47...Sharp fall
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R: 1.4698-724 / 1.4748 / 1.4780-93
S: 1.4587 / 1.4300-286 / 1.4175
Cable has seen a sharp fall during the day today after scaling 1.4910 earlier. This is despite having risen past the 38.2% retracement of the fall from 1.5726 (17th Dec) to 1.4351 (31st Dec) at 1.4876. There are not too many Supports in sight beyond 1.4587 which is the Projected Max Low for the day. Next prominent Support is available at 1.4300 which is a trendline joining the lows of 1.4558 (13th Nov), 1.4468 (4th Dec) and 1.4351 (31st Dec).

During the week, the broad range for the pair is between 1.43-1.52 and is presently trading in between this range ahead of the UK CPI (tomorrow) and UK GDP (Friday).


 
 AUD-USD @ 0.6753/56...Immediate Support at 0.6745
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R: 0.6796-805 / 0.6876-99 / 0.6923-32
S: 0.6738 / 0.6702-687 / 0.6390
Aussie has traded lower during the day today and dipped to record a low of 0.6733. Aussie has trendline Support on the hourly candle at 0.6745 presently joining the lows of 0.6537, 0.6647 and 0.6743. Aussie has seen a lot of battering during the late Asian and early European session, it could possibly see some consolidation in the region of 0.6700-0.6850 over the US session. US is on a holiday today which could bring in lesser participants and hence lesser activity. It continues to remain entangled between the 13- and 21-MAs on the 3-day candles. To see the MA chart of Aussie, click on: http://www.kshitij.com/graphgallery/audma.shtml#ma

Market Trade (at the time of writing):
Buy AUD 10K @ current levels, SL 0.6740, TP 0.6790


Happy Trading!