USD-CHF @ 1.1547/52...Holding Long
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R: 1.1580 / 1.1620 / 1.1732
S: 1.1495-75 / 1.1404
Swiss once again has tested the low near 1.15, thrice in as many days now and has bounced from there. As mentioned in the morning, Swiss continues to move within the upwards rising wedge which has the potential to take the pair towards 1.1750 over the US session if the Support at 1.15 continues to hold. To see the chart of Swiss, click on: http://www.kshitij.com/graphgallery/chfcandle.shtml#candle

Holding:
Long USD 10K at 1.1515, SL 1.1480, TP 1.1625
 

GBP-USD @ 1.4365/68...Volatile on BoE rate cut signals
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R: 1.4499 / 1.4552-84 / 1.4697
S: 1.4437-25 / 1.4362 / 1.4261
Cable has been extremely volatile on BoE King's statements which signalled interest rate cuts in the offing as the economy is into deep recession. Cable has been moving in waves on the daily candle chart in a channel. If this continues to hold, the pair could be moving downwards towards 1.4250 as can be seen on the daily candle charts after breaking past the Support at 1.4363 (21-day MA) which is also the 38.2% fibonacci retracement of the fall from 1.5726 (12/19/08) to 1.3503 (1/23/09) where the pair could consolidate over the next few sessions. To see the chart of Cable, click on: http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle


 
 AUD-USD @ 0.6532/36...Little moved
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R: 0.6570-89 / 0.6653-66 / 0.6738-31
S: 0.6462 / 0.6386 / 0.6276
Not much has happened in Aussie and the view continues to be the same as in the morning. It has been taking Support of the 55-MA on the 4-hourly. We would rather re-iterate what we said in the morning.

Aussie took Support at the 61.8% retracement of the rise from 0.6007 (10/31/08) to 0.7272 (1/9/09) earlier during the day. On a further dip, it has Support at 0.6279 on the trendline on the daily charts as the pair faces Resistance from the trendline at 0.6825 on the 3-day candle charts. Trendlines on Weekly line charts suggest an important Support near 0.6386. It is more likely for the pair to take Support at this level on a further dip from hereon. To see the chart of Aussie, click on: http://www.kshitij.com/graphgallery/audcandle.shtml#candle http://www.kshitij.com/graphgallery/audma.shtml#ma

Happy Trading!