USD-CHF @ 1.1578/81...Bearish below 21-day MA
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R: 1.1602 / 1.1640 / 1.1796
S: 1.1449 / 1.1395 / 1.1330
Dollar-Swiss dipped below the channel once again but has bounced from there. In the process, it also dishonoured the Support of 100-day MA at 1.1541. It has been struggling to sustain a rise past the 21-day MA over the last three days. This Resistance line could now be enveloping the pair to push it down and out of the channel. Important thing to see over the next few days is if the pair had lost the steam to sustain the steady uprise within the channel. To see the chart and the channel, click on: http://www.kshitij.com/graphgallery/chfcandle.shtml#candle
 
 GBP-USD @ 1.3829/33...Volatile swings
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R: 1.3950 / 1.4028 / 1.4135
S: 1.3614 / 1.3503
Cable has been oscillating and making wild swings while taking Support of 1.3750-40 on the downside all thorugh yesterday and today. We have been mentioning about this Support since long. Till this Support holds good, a rise towards 1.40 is possible during the US session; but, eventually, it could be headed towards 1.35 (previous low of 23rd Jan 2009 - a level last seen only in 1985) over a longer time frame. To see the chart of Cable, click on: http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle


 
 AUD-USD @ 0.6404/07...21-day MA at 0.6441
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R: 0.6441 / 0.6483 / 0.6642
S: 0.6367 / 0.6282 / 0.5994
Aussie continues to struggle to rise past the 21-day MA and is currently fgacing Resistance from the 100-MA on the 4-hour chart. A breach here might attempt 0.6481 during the US session but for that to happen it will have to rise past the 21-day MA at 0.6441. On numerous occasions over the last few days, the pair has attempted to breach this Resistance but has not been able to close above this line. The same possibly might be attempted during the US session today meaning it may initially go up towards the 200-MA on the 4-hourly at 0.6481 and then possibly settle below the 21-day MA. One might want to Short near the 21-day MA with SL above the 200-MA on the 4-hourly. A downside may once again be Supported near 0.6285 (which is also close to the Projected Max Low for the day at 0.6282). Having said that, there are good chances that the range of 0.6282-0.6441 will not be breached during the US session today.

One might want to play in on the pair's ability to cling on to the enveloping 21-day MA. To see the chart of Aussie, click on: http://www.kshitij.com/graphgallery/audcandle.shtml#candle

Happy Trading!