Daily Market Comments - Tuesday 07 July 2009

[RTFX-Trading]

EUR-USD	Market should hold major support at 1.3883 before rising towards 1.4029 or even 1.4074 limit.
USD-CHF	Preferred view is for a fall to 1.0841 - 1.0803 while 1.0900 - 1.0921 area resists. A clear break of 1.0998 would be bullish.
GBP-USD	Market should hold major support at 1.6041 before rising towards 1.6378 or even 1.6469 limit.
USD-JPY	One more dip to 95.0050 - < s1> is likely followed by a grind higher to 95.7100 - 96.0600. After which it can resume its downtrend.
EUR-JPY	Market should hold major support at 131.1800 before rising towards 134.3767 or even 135.4133 limit.
EUR-CHF	Decline should be supported around 1.5083 zone for rally to above 1.5199. A clear break of 1.5083 will damage this expected rally.
EUR-GBP	Resistances lie around 0.8616 and 0.8636. It should test lower towards 0.8547 zone. A clear break of 0.8555 would be bearish.
USD-CAD	It looks more likely that it would rise to 1.1652 - 1.1712 from 1.1590 or 1.1560. After which a downside move is expected.
NZD-USD	It should trade higher to 0.6417 while 0.6329 or 0.6305 offers support. Stop loss below 0.6280 zone.
AUD-USD	Market should hold major support at 0.7909 before rising towards 0.8012 or even 0.8048 limit.
XAG-USD	While below 13.3600 it is more likely to fall further towards 13.0367 level.
XAU-USD	It is likely to fall towards 922.9501 - 919.6668 as its corrective rally could falter in 928.9751 - 931.7168 area. Stop above 938.2834 zone.

Trading Desk, RTFX Ltd
16th September SquareMosta, MST 1180Malta
Tel: +356 23 310 000 | Fax: +356 21 412 458

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