USD-CHF @ 1.1261/64...May dip below 1.1167
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R: 1.1384 / 1.1437 / 1.1490
S: 1.1246 / 1.1098 / 1.0981
Dollar-Swiss has been trading ranged through the day as the 21-MA on the hourly approaches the pair from the top to possibly pressure it downwards and help the pair in breaking past the thrice attempted Support at 1.1167. We continue to feel that a dip below this Support would be a good opportunity to go Short with an initial target of 1.0970. There we have the 13-month MA. But there's also some danger of 21-month MA at 1.1134. To see the monthly chart of Swiss, click on: http://www.kshitij.com/graphgallery/chfmth.shtml#mth
 

 GBP-USD @ 1.4735/40...May cool off
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R: 1.4831 / 1.5050 / 1.5269
S: 1.4604 / 1.4533 / 1.4495
Cable had shot to record a high of 1.4778 during the European handover session today and looks well set to go further up towards the Projected Max High for the day at 1.4831. But will this be end of the uprise being seen since 10th May or there's still some heat before which the pair cools off towards 1.44 mark. Possibly, a rise may even take it towards 1.5050. But eventually over an elongated time frame, it is likely to come down towards 1.44 as mentioned earlier. This dip could even happen after the pair surges towards 1.5200; but for now 1.5050 looks good enough as Resistance.

The pair has been consolidating over the last 3 months between 1.35 and 1.54 after the sharp fall from the high of 2.1163 (Nov-07) and is likely to continue within this broad range.


 
 AUD-USD @ 0.7004/08...Awaiting the trigger
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R: 0.7022 / 0.7132 / 0.7200
S: 0.6950 / 0.6793
The view on Aussie continues to be the same. There are good chances of rise towards 0.7200 and thereafter towards 0.7450-7500 over the next few days. Though we were stopped out of the Long entered in the morning, we might want to re-enter a little later for the sizeable gains mentioned earlier. To see the chart of Aussie, click on: http://www.kshitij.com/graphgallery/audcandle.shtml#candle

Happy Trading!