FX Thoughts for the Day

Daily Forex Technicals | Written by Kshitij Consultancy Services | Apr 27 09 11:47 GMT |

USD-CHF @ 1.1457/60...Bullish R: 1.1507 / 1.1537 / 1.1561 S: 1.1436 / 1.1411 / 1.1360 Dollar-Swiss rose towards 1.1487 during the day and is quite likely to continue moving up as the 100- and 200-MAs on the 4-hourly are flattening out. The Support at 1.1360 continued to hold during the day and is likely to hold during the US session as well. We continue to believe that a rise towards 1.17 over the next few days may be seen till this Support holds. Cable GBP-USD @ 1.4566/70...Mixed R: 1.4603 / 1.4641 / 1.4690 S: 1.4504 / 1.4474 / 1.3886 The view on Cable continues to be the same. The broad range of 1.4400 to 1.5070 remains intact. Cable looks mixed within the range. But overall the broad range remains intact. During the day it had dipped towards 1.4514 and has bounced towards the current levels. A further dip could be well Supported at 1.4418 and a rise might see it move towards 1.4700 during the US session. Aussie AUD-USD @ 0.7141/46...200-day MA Resistance R: 0.7173 / 0.7230-36 / 0.7538 S: 0.7101 / 0.7038 / 0.7002 Aussie rose towards 0.7171 during the day and has since then been dipping lower. A further dip is likely to be supported near 0.7100. The 200-day MA continues to pressure the pair down and we continue to believe the range of 0.6945-0.7230 is likely over the next couple days. Holding: AUD 10K LOng at 0.7126, SL 0.7100 (up from 0.7080), TP 0.7200 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.