FX Thoughts for the Day

Daily Forex Technicals | Written by Kshitij Consultancy Services | Sep 08 08 12:04 GMT |

USD-CHF @ 1.1285/88... Could trade between 1.1100-1.1200 R: 1.1175-88 / 1.1200 / 1.1240-60 S: 1.1115-00 / 1.1060 / 1.1020-00 The pair has finally broken past the Resistance at 1.12 and scaled to test the high of 1.1320, a level we were targeting in the medium term, however, were not anticipating such a sharp rise in a the rise today. The Resistance broken, the pair could be move towards 1.13-15 over the coming weeks. To see the chart click on USD-CHF Charts at: http://www.kshitij.com/graphgallery/chfcandle.shtml GBP-USD @ 1.7616/20... Could remain calm in the US session R: 1.7650 / 1.7700 / 1.7770 / 1.7850 S: 1.7600 / 1.7565 / 1.7525-00 As mentioned in our morning report a dip was seen in the pair. However, the plunge, rather than “dip”, found some Support at 1.7830-7780 region before finally breaking past to slide towards 1.76 once again. It is difficult to anticipate from here on for the day. Over the week the lows will be re-tested and could possibly lead to a fall towards 1.7200-7000. There could be some buying near 1.75 the chances remain bleak though. AUD-USD @ 0.8185/88.... Volatile moves this week R: 0.8200 / 0.8225 / 0.8300 / 0.8365 S: 0.8185-75 / 0.8150 / 0.80 The rise seen earlier in the day has been nearly wiped out. A fall in the pair broke through the Support at 0.8250 during the day and has resulted in a low of 0.8150. However, from here on, the day ahead could see a rise being restricted to the Support-turned-Resistance a 0.8250. The overall trend of the, market continues to be bearish and the pair could target levels like 0.8050 over the coming weeks Kshitij Consultancy Service http://www.fxthoughts.com Legal disclaimer and risk disclosure These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsibly for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.