Kshitij Consultancy Service Team

USD-CHF @ 1.0910/14...Sideways range 1.0850-1050
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R: 1.0962-72 / 1.0998-1006 / 1.1050-55
S: 1.0923 / 1.0853 / 1.0831
Last two weeks have been volatile within the overall downtrend. The Candles show long wicks on both sides and small bodies. Suggests acute indecision in the market. A fresh dip/ fall to test 1.0850-00 is a possibility this week also, but a precipitations fall down towards 1.07-1.08 seems unlikely.

The more likely scenario is that of sideways range trade between 1.0850-1050 through the week. Dips below 1.0850 are likely to be short-lived.

Today the immediate Support is at 1.0890 and then at 1.0853, the statistically projected Max Low for the day. On the upside the Resistance is at 1.0960 and then at 1.0990.

GBP-USD @ 1.9838/42...Resistance near 1.9850-60
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R: 1.9830-40 / 1.9870
S: 1.9680-70 / 1.9620
GBP-USD remains in an overall downtrend, inspite of sharp pullback in the last 4 days of last week after a low of 1.9337 was seen on 22-Jan, just before the US Fed cut rates.

On the weekly charts, it is just below an important Resistance of 1.9870-80, on the trendline joining the highs of 2.1163 (09-Nov) and 2.0826 (29-Nov). A move above that could see further rally towards 2.0000 before a fall. We expect selling on rallies to continue. However, in case 1.9870 is not crossed, a fall towards 1.9600 would be more likely in the next few days.

For today the immediate Support is at 1.9680-70, on a trendline on the 4-Hourly joining the lows of 1.9337 (22-Jan) and 1.9498 (24-Jan). Note that the statistically projected Max Low for the day is at 1.9678. On the upside the Resistance is at 1.9830-40 and then at 1.9870. Short positions can be considered near 1.9840 with SL above 1.9900 and targeting 1.9750 in the week.

AUD-USD @ 0.8810/14...Sell a Big Rally
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R: 0.8850 / 0.8897-0.8905
S: 0.8870-65 / 0.8720 / 0.8690-88
Last week, AUD-USD rallied sharply after a big fall to 0.8511 earlier in the week. The sharp rise in the latter part of the week probably negates the fall from the 0.9019 High of 15-Jan. Whether it negates the bigger fall coming down from the 0.94 High of 07-Nov-07, is unknown at the moment.

For this week, the pair is likely to stay ranged within 0.8900 and 0.8609, the latter being the 200-MA on the Daily Candles. Just below that we have trendline Support at 0.8560-50, on the Daily Candles joining the lows of 0.7674 (17-Aug) and 0.8511 (22-Jan). On the upside the Resistance above 0.8900, is at 0.8935-50, on the Daily Candles joining the highs of 0.9403 (07-Nov) and 0.9023 (15-Jan).

For today the Resistance is at 0.8850 and then at 0.8897, the statistically projected Max High for the day. On the downside the Support is at 0.8770-65 and then at 0.8720. The statistically projected Max Low for the day is at 0.8689. We’d like to sell a sharp rally

Limit Sell Order:
Sell AUD 10K at 0.8910, SL 0.8950, TP 0.8750.

Happy Trading