FX Thoughts for the Day

Daily Forex Technicals | Written by Kshitij Consultancy Services | Mar 31 09 12:46 GMT |

USD-CHF @ 1.1391/95...Stop Loss Sell Order R: 1.1431 / 1.1444 / 1.1495 S: 1.1360-53 / 1.1206 / 1.1170 Dollar-Swiss has fallen towards the 1.1400-1.1350 region as mentioned earlier after facing Resistance from the 1.1520-1.1565 region as we have mentioned earlier. We could possibly see it move towards 1.1170 over the next few days. But for now, it is taking Support of the 38.2% retracement of the rise from 1.0371 (29-Dec-08) to 1.1968 (12-Mar-09) at 1.1360. The Limit Sell Order did not get triggered as the pair did not rise towards 1.1540. Stop Loss Sell Order: Sell USD 10K at 1.1290, SL 1.1420, TP 1.1190 Cable GBP-USD @ 1.4306/10...Resistance at 1.4348 held R: 1.4341-48 / 1.4400 / 1.4456-4500 S: 1.4237 / 1.4185 / 1.4075 Cable has managed to find Resistance near 1.4348 (13-day MA) but has risen past the 21-MA on the 4-hourly. If it continues to rise from here on, we may possibly see Resistance near 1.4456-1.4500 region. Having made a U-turn from 1.4111 yesterday, we may see it rising even towards 1.47 over the next couple of days or more but then it could possibly settle near 1.43 over the next few days. To see the chart of Cable, click on: http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle Aussie AUD-USD @ 0.6925/28...Resistance region 0.6900-45 R: 0.6945 / 0.7227 / 0.7291 S: 0.6863 / 0.6832 / 0.6735 Aussie has risen during the day into the Resistance region of 0.6900-0.6945. A significant break past this shall reignite the hopes of 0.75 and render the dip seen over the last two days as a spike. If it faces Resistance near this region and comes down, the pair might intend to consolidate within the range of 0.6640-0.6945 over the next few days. RBA Meet next week would be crucial to decide where could the pair be headed. But till then it could be consolidating between 0.6640-0.6900 over the next few days. 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.