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 @ 1.1608/13...Immediate range 1.1428-1.1670
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R: 1.1743 / 1.1797 / 1.1887
S: 1.1544-13 / 1.1468 / 1.1417
Swiss has been trading steadily above the 21-MA on the 4-hour chart. It has immediate Resistance near 1.1670 on the hourly charts and Support near 1.1428.
Swiss continues to trade in the middle of the broad range of 1.1350-1.1950. Though a narrow band can also be constructed out of the trendlines from the hourly charts which comes to 1.1428-1.1670. Overall, till the time the pair continues to trade above the lower end of the broader range, there's good chances for it to rise towards 1.17 either during the US session or after a couple of sessions.
GBP-USD @ 1.4503/06...Strong Resistance near 1.47
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R: 1.4602 / 1.4673 / 1.4727-29
S: 1.4462-40 / 1.4415-05 / 1.4363-51
Cable has risen above the 200-MA on the 4-hour candles and could possibly move towards the 13-day MA at 1.4727 Resistance whch co-incides with the trendline Resistance on the daily charts. This also coincides with the 13-week MA Resistance at 1.4729. But for that to happen there's another major Resistance near 1.46 (8-week MA). To see the channel in which the Cable is moving over the past few months, click on: http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle
The bigger picture remains the same. The Support at 1.39 continues to be strong. A monthly close below this could be very bearish for the pair, which could then take the pair towards it low of 1.35 seen on 23rd Jan '09. To see the chart of Cable, click on: http://www.kshitij.com/graphgallery/gbpmth.shtml#mth
AUD-USD @ 0.6501/04...Ranged
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R: 0.6534 / 0.6595-616
S: 0.6454-46 / 0.6406 / 0.6359
The range for Aussie could be 0.6408-0.6531 over the US session. It also has 13-day MA at 0.6516 which if given could contain the pair near 0.6531. The Projected Max Low for the day is near 0.6359, which could be tested if the projected range breaks on the downside. Till the time, the Resistance at 0.6531 holds, it could be pressured towards 0.63 over the next couple of days. However a break of the Resistance could see a move towards 0.6618 (21-day MA). To see the chart of Aussie, click on: http://www.kshitij.com/graphgallery/audcandle.shtml#candle
Happy Trading!







