FX Thoughts for the Day
Kshitij Consultancy Service Team from Kshitij Consultancy Service at 11/27/09
USD-CHF @ 1.0110/13...Resistance in 1.0180-0200 region
R: 1.0130 / 1.0180-0200 / 1.0230
S: 1.0050-30 / 0.9980-60 / 0.9875
After breaking above the Resistance at 1.0110-30 region and recording a high of 1.0176 during the day, Swiss has fallen once again and is now trading once again in the Resistance region 1.0110-30. If it continues to trade lower we might see a downmove towards 1.0050-30 in the US session today. The broader picture continue to remain bearish and we expect the Resistance in 1.0180-0200 to hold in the US session today.
GBP-USD @ 1.6375/78...Resistance at 1.6470
R: 1.6430 / 1.6470 / 1.6570-1.6600
S: 1.6350-35 / 1.6270-60 / 1.6212
Cable has risen from the day's low of 1.6271. However, it has fallen from 1.6441 and is now trading just below 1.6400. With significant Resistance at 1.6470, the pair continues to remain pressured on the downside. If this Resistance at 1.6470 holds, we might see a downmove towards 1.6200-6150 over the next few sessions/days. On the other hand a strong break above 1.6470 might see a rise towards 1.6570-1.6600
AUD-USD @ 0.8993/0.8997...Resistance in 0.9050-75 region
R: 0.9050-75 / 0.9150-70 / 0.9220
S: 0.8950-35 / 0.8900 / 0.8850
Aussie traded lower and recorded a low of 0.8946 during the day. However, it has risen from the low and is trading just near 0.9000. With Resistance in 0.9050-75 region, the pair continued to remain pressured on the downside. Note that the projected Max-High for the day is 0.9084. If this Resistance region holds, we might see a downmove towards the Support at 0.8900 mentioned earlier in the coming sessions/days. On the other hand a strong break above 0.9075 might see a rise towards 0.9150-70.
Happy Trading!
