EURO, JAP YEN and EURO-YEN
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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USD-CHF @ 1.1125/26...8-DMA Support
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R: 1.1147 / 1.1187-90 / 1.1236
S: 1.1101 / 1.1016 / 1.0923-09
Dollar-Swiss has dipped during the day towards 1.1089 as it slipped marginally below the 8-DMA and has then bounced above this Support line. Once this line is broken past comprehensively, a further dip towards 1.0980 could be seen very rapidly. A further fall is likely to be contained near 1.0900. On the upside, the projected Max High for the day is at 1.1236 before which it has a few hurdles to cross at 1.1147 and 1.1190.

Holding:
USD 10K Short at 1.1090, SL 1.1140, TP 1.1000
 
 GBP-USD @ 1.5483/86...Breaks past 1.55
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R: 1.5520 / 1.5570 / 1.5806
S: 1.5346 / 1.5310 / 1.5247
Cable has broken above the 1.55 mark led by the surge above 60 mark in Crude and is testing the Resistance at 1.55 now. This is despite the lower than expected inflation numbers which came in at 2.3% YoY for the month of April. A break past 1.5570 (200-DMA) might open up the chances of rise towards 1.58 whereas there would be likelihood of a fall towards 1.5400-5350 on profit taking during the US session. However, much would depend on the US Housing Starts to be released in the next half an hour. To see the chart of Cable and the trendline Resistance at 1.55, click on: http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle


 
 AUD-USD @ 0.7749/52...Rises above 0.7750
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R: 0.7850 / 0.7885 / 0.7900
S: 0.7627 / 0.7575 / 0.7544
Aussie has risen towards 0.7769 during the European session and is well set to move towards the 55-month MA at 0.7927. However, there's a trendline Resistance at 0.7835 on the upper part of the channel in which the pair has been treading over the last several days. To see the chart of Aussie, click on: http://www.kshitij.com/graphgallery/audcandle.shtml#candle

A rise past 0.7850 may be bought for a rise towards 0.7927-38

 

Happy Trading!