Daily Market Comments - Thursday 02 July 2009

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.4172 or 1.4228 if support around 1.4114 hold. After which a pullback to 1.4114 - 1.4071 zone is possible.
USD-CHF	Market should not go lower than 1.0729 - 1.0677. After this move down it should go up to 1.0819 - 1.0856 area.
GBP-USD	It may attempt a test higher to 1.6512 - 1.6555 after which weakness may set it to a drift down to below 1.6394 limit.
USD-JPY	While below 96.8150 - 97.0300 it is more likely to fall further towards 96.4100 or 96.2200. Premature rise above 97.0300 could see it rising above 97.4100 zone.
EUR-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 137.1633 or 137.3800 if support around 136.2100 hold. After which a pullback to 136.2100 - 135.8650 zone is possible.
EUR-CHF	It looks set to visit further lower territory down to around 1.5200 - 1.5182. Its corrective attempts should fail ahead of 1.5230 or 1.5242. Stop loss above 1.5279 zone.
EUR-GBP	Currently uptrend should end around 0.8625 - 0.8612 area. A correction down to below 0.8535 is expected. A rise above 0.8642 will abort the expected correction.
USD-CAD	null
NZD-USD	Support at 0.6389 or 0.6361 should hold the downside for a correction to above 0.6449 zone.
AUD-USD	It should be subject to more sell off towards 0.8054 or 0.8036. Corrective upward swings should face resistance around 0.8120 area. A break of 0.8156 is bullish.
XAG-USD	It should trade lower to 13.6100. Resistances are at 13.8900 and 14.0200. A break of 14.1700 is bullish, confirmed by a close above 13.8200.
XAU-USD	Currently uptrend should end around 943.6299 - 949.7833 area. A correction down to 932.9199 - 928.3632 is expected. A rise above 958.8967 will abort the expected correction.

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