Daily Market Comments - Wednesday 01 July 2009

[RTFX-Trading]

EUR-USD	While above 1.4017 - 1.3972 zone a corrective dip could test 1.4062 or 1.4123. After which it should resume his downtrend.
USD-CHF	Current upmove should be over between 1.0877 and 1.0909. A correction down to 1.0685 is anticipated. A break of 1.0956 is bullish.
GBP-USD	It looks more likely that it would rise to 1.6661 - 1.6863 from 1.6441 or 1.6340. After which a downside move is expected.
USD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 96.4395 or 96.8000 if support around 96.0600 hold. After which a pullback to 96.0600 - 95.8350 zone is possible.
EUR-JPY	While below 135.5800 - 135.9867 it is more likely to fall further towards 134.3967 or 133.5833.
EUR-CHF	Our preferred view is for a drift down to 1.5184. Resistances is at 1.5235. A rise above 1.5268 would delay but not abort this expected fall.
EUR-GBP	It should trade higher to 0.8562 or above 0.8599 in extention. Supports at 0.8480 and 0.8462. Stop loss below 0.8399 zone.
USD-CAD	It should try higher up to 1.1632 - 1.1672. Entry point 1.1591 or 1.1567. After this rise, a correction is expected.
NZD-USD	While above 0.6447 - 0.6413 zone a corrective upmove could test 0.6503 or 0.6526. After which it should resume its downtrend.
AUD-USD	It looks more likely that it would rise to 0.8133 - 0.8202 from 0.8052 or 0.8017. After which a downside move is expected.
XAG-USD	Market should not go lower than 13.5400 - 13.3367. After this move down it should go up to 13.8750 - 14.0067 area.
XAU-USD	null

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