EURO, JAP YEN and EURO-YEN
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering to our newsletter.USD-CHF @ 1.1666/69...Immediately ranged, near term bullish
-------------------------------------------------------
R: 1.1805 / 1.1899 / 1.1931
S: 1.1627-00 / 1.1543-21
Swiss has remained ranged between 1.1628-1.1685 and was consolidative as mentioned in the morning. It took Support of the 21-MA on the hourly candles as it continues to ride marginally higher above the 8-MA on the hourly. The Support at 1.1543-21 is important which if held could see the pair scaling higher above the 1.17 mark or even towards 1.18 over the next couple of sessions.
GBP-USD @ 1.4225/29...Might bounce if Support at 1.4158 holds.
-------------------------------------------------------
R: 1.4303 / 1.4342 / 1.4402
S: 1.4211 / 1.4137 / 1.4047
Cable dipped and took Support at the level of 1.4158 mentioned in the morning. The trendline Support mentioned in the morning also held. To see the chart of Cable, click on: http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle
There's Support at 1.4047 on the 4-hour candle charts on the 55-MA. A dip should be contained near this moving average line. Another possible view could be that this dip could be just written off as profit taking before the pair once again starts its journey towards the 200-MA on the 4-hourly currently at 1.4529
AUD-USD @ 0.6283/88...Supported at Max Low for the day
-----------------------------
R: 0.6351-80 / 0.6471-92
S: 0.6243 / 0.5917 / 0.5875
A rise (short covering) might be limited to 0.6351 as the pair continues to be bearish, trading just above the Projected Max Low for the day at 0.6243. If this Support holds, the pair could be seeing some short covering which could take the pair towards 0.6351-80. However, if it continues to slide further, we could see it then move towards 0.59 over the next few days. A sense of feeling suggests that there could be some short covering to push the pair up to 0.6380 during the US session and probably would remain ranged tomorrow during rate cut announcement.
Happy Trading!







