USD-CHF @ 1.0842/46...Extremely quiet
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R: 1.0927 / 1.0965-80 / 1.1017
S: 1.0750 / 1.0729-19
USD-CHF has been extremley quiet moving between a 40 pips band during the day. Besides, US being closed on account of Memorial Day today, trading is likely to be muted during the US session. The view as mentioned in the morning continues to hold. The same is reproduced below:

Dollar-Swiss has broken past the Support at 1.0980-65 last week and looks headed for a further fall towards 1.0750 during this week as the weekly candle chart suggests a strong Support near 1.0750. A Support at 1.0750 may also confirm the end of the "C" wave on the weekly chart. However, a break past 1.0750 is likely to be very bearish which could next target 1.0360.

Important Resistance to be watched for during the week: 1.0965-80 Support-turned-Resistance, 21-month MA at 1.1052, 13-month MA Resistance at 1.1132

Important Supports for the week: 1.0750 trendline Support on weekly candles, 1.0680 trendline Support on the daily (joining 1.0012 on 15-Jul-2008, 1.0371 on 29-Dec-2008), 1.0371 (previous low of 29-Dec-08).

To see the chart of Swiss, click on: http://www.kshitij.com/graphgallery/chfcandle.shtml#candle

Limit Buy Order:
Buy USD 10K at 1.0800, SL 1.0700, TP 1.0950
Buy USD 10K at 1.0730, SL 1.0670, TP Open
 
 
GBP-USD @ 1.5910/13...Muted trading likely
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R: 1.6036-50 / 1.6193 / 1.6426
S: 1.5816 / 1.5736 / 1.5574
Cable has moved in a narrow band of 100 pips during the day. There's immediate Resistance at 1.5945 and beyond that it might try to move towards 1.6050 and face strong Resistance there. Here, too, trading is likely to be muted because of holiday in UK and US. Range for today, if some movement happens during the US session, is likely to be between 1.5800-1.6050. Overall range of 1.5700-1.6050 continues to hold for the week.

Limit Buy Order:
Buy GBP 10K at 1.5350, SL 1.5250, TP Open

 
 AUD-USD @ 0.7811/16...may rise to 0.79 before dip to 0.77
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R: 0.7814 / 0.7905 / 0.7923-45
S: 0.7702-00 / 0.7661-46 / 0.7619
Aussie has ranged between 0.7773-0.7831 through the day. It is moving in a channel on the daily chart the upper range for which is 0.7923-30. It is likely to face Resistance at this over a couple of days (at least) and dip towards 0.7650-0.7700. Possibly, even during the US session today. Besides, having found good Support on the 100-MA on the hourly, it looks well set to face Resistance in the 0.7900-45 region possibly during the US session.

Limit Sell Order:
Sell AUD 10K at 0.7900, SL 0.7980, TP 0.7830


Happy Trading!