USD-CHF @ 1.1419/23...Range continues
----------------------------------
R: 1.1445-76 / 1.1525-45 / 1.1639-54
S: 1.1387-69 / 1.1348 / 1.1303
Swiss continues with its way in the upward moving channel. Though, it looks likely to be broken on the downside sooner rather than later, the timing is difficult to foresee. It had made attempts to break past this channel during the day when it dipped towards 1.1330. The range that the pair had been trading in during the day has been 1.1330-1.1442. It faces a lot of Resistance on its way up in the region of 1.1450-58 which includes the 55-day MA, 8-day MA, 21-week MA. To see the chart of Swiss, click on: http://www.kshitij.com/graphgallery/chfcandle.shtml#candle

We re-iterate the view that a rise past this Resistance region could next be contained at 1.1528 and a dip below the channel could see it moving towards 1.12 initially and 1.11 thereafter over the next few sessions.

Longer term charts suggest Swiss is moving in a channel bound by 1.28 above and by 0.80 below. To see the monthly chart of Swiss, click on: http://www.kshitij.com/graphgallery/chfmth.shtml#mth
 
 
GBP-USD @ 1.4313/17...Breaks past 13-day MA
----------------------------------------
R: 1.4441 / 1.4497
S: 1.4194 / 1.4106 / 1.4012
The pair did break past the 13-day MA at 1.4283 when it recorded a high of 1.4325. However it has settled since then. A dip below could be contained near 1.4107. In the longer term the pair has good Support near 1.39 on the monthly charts which we have been mentioning for quite sometime. A monthly close below this level could be very bearish which could take the pair towards 1.29. To see the chart of Cable, click on: http://www.kshitij.com/graphgallery/gbpmth.shtml#mth

Differential between UK 10yr- Gilts and US 10-yr Bonds has been peaking over the last few days. We would have to wait and watch if it has peaked out or it manages to rise further which could then decide the direction of Cable. To see the chart, click on: http://www.kshitij.com/graphgallery/gbpusddiff.shtml#gbpusd


 
 AUD-USD @ 0.6691/94...Spikes below the channel
-------------------------------------------
R: 0.6746 / 0.6792-814
S: 0.6646-21 / 0.6594-91 / 0.6564
Aussie continues to trade below the 13-week MA despite spiking above this level during the day to record a high of 0.6705. Though the Resistance of 55-day MA (at 0.6697) has been breached briefly, a comprehensive breach of the Resistance line could take it towards 0.6813 for the day.

Having said that, we continue to maintain that the range might be broken on the downside once the RBA meeting nears which could then take the pair towards 0.6350 over the next few days on the pretext of 'flight to safety' coupled with rate cut expectations. To see the chart of Aussie, click on: http://www.kshitij.com/graphgallery/audcandle.shtml#candle

Happy Trading!