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 @ 1.0932/36...Looks bullish
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R: 1.1041 / 1.1106 / 1.1167
S: 1.0923-11 / 1.0880-60 / 1.0820-00
Dollar-Swiss has risen during the day towards 1.0991 and in the process has broken past an important 21-DMA Resistance at 1.0911 and also the projected Max High for the day at . As mentioned earlier, this signifies a trend reversal and is likely to next target 1.1220 after a brief Resistance in the region of 1.1000-1.1050.

However, a sharp dip from here is likely to be contained near 1.0802 if the Projected Max Low for the day at 1.0860 is surpassed. 


 GBP-USD @ 1.5920/24...Projected Max Low at 1.5775
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R: 1.5940 / 1.6007 / 1.6057-76
S: 1.5806 / 1.5775 / 1.5493
Cable fell and found Support near the 1.5794 region mentioned in the morning. A break of 1.5787-75 is likely to next target 1.55-54. But till the Support at 21-DMA holds, it could just be a profit taking correction correction of the rise that began since 22nd April 09 from 1.4490. Just to remind our subscribers that 1.55 is a long term significant Support on Cable. For now, the Projected Max Low for the day is at 1.5775.

The simple daily MACD on Cable has met a trendline Resistance which is now likely to come down further pulling the pair down with it towards 1.55. To see the chart, click on: http://www.kshitij.com/graphgallery/gbposc.shtml#osc

 
 AUD-USD @ 0.7882/86...Supported by 21-DMA
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R: 0.7924-35 / 0.7974-96 / 0.8142
S: 0.7837-08 / 0.7670-67 / 0.7620
Aussie has risen after finding Support from the 21-DMA at 0.7813. The pair has oscillated betwen the 8-DMA on the top and the 21-DMA at the bottom. Having broken past the 100-SMA on the 4-hourly, there could be chances of a further dip during the US session to break the Support at 21-DMA. Overall, the trend since the last 3-4 days have been bearish which is likely to bring it down towards the trendline Support on the daily candle chart at 0.7550 for today (which is likely to go up towards 0.77 by the time the pair approaches the trendline) is tested. The Projected Max Low for the day is at 0.7837. To see the chart of Aussie, click on: http://www.kshitij.com/graphgallery/audcandle.shtml#candle


Happy Trading!