EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register

Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
-------------------------------------------------------------


USD-CHF @ 1.1209/12...Range: 1.1170-1.1360
---------------------------------
R: 1.1310 / 1.1360-62 / 1.1409-29
S: 1.1170 / 1.1133-30 / 1.1118
Dollar-Swiss has ranged during the day between 1.1216 and 1.1270 as the 13-DMA Support is being tested currently. It is likely to get into a Support region of 1.1216-1.1190. A break below might see it dip towards 1.1150 below which we have the 8-DMA Support at 1.1131. Overall, the pair looks likely to be ranged between 1.1170-1.1360 over the next few days which is bound by the 50% and 62.8% retracement of the rise from 1.0371 (29 Dec 2008) to 1.1968 (12 Mar 2009) at the bottom and the top respectively. To see the chart of Swiss, click on: http://www.kshitij.com/graphgallery/chfma.shtml#ma
 
 GBP-USD @ 1.5300/05...Max High for the day at 1.5305
----------------------------------------------
R: 1.5305 / 1.5500-50 / 1.5806
S: 1.5174 / 1.5148 / 1.5079
Cable, too, has risen during the day and is retesting the Resistance at 1.53 as the range of 1.51-1.53 continued to hold. Till this range holds, "buy low and sell high" may work. It will have to comprehensively break past the Resistance at 1.53 beyond which an upmove even towards 1.55 looks possible over a couple of days. A break of the range is likely to find Support at 1.4928 or face Resistance at 1.55. To see the chart of Cable, click on: http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle

Market Trade (at the time of writing):
Sell GBP 10K at current level, SL 1.5385, TP 1.5150

 
 AUD-USD @ 0.7595/0.7600...Mixed
-------------------------
R: 0.7570-0.7620 / 0.7885-0.7900
S: 0.7534 / 0.7500 / 0.7475-58
Aussie has risen pretty well during the day and is facing Resistance in the 0.7570-0.7620 region. A rise past this would ensure a bullish run towards the upper end of the channel which seems to be inching closer to 0.7900. But till it remains below this, there are equal chances of a dip below 0.7475 which would next target 0.7350-0.7300 (the lower end of the channel as can be seen on the daily chart. Notice the channel and the Res trendline proving Resistance at the current region at the following page: http://www.kshitij.com/graphgallery/audcandle.shtml#candle

Happy Trading!