Daily Market Comments - Wednesday 22 July 2009

[RTFX-Trading]

EUR-USD	Strength can extend to 1.4251 or 1.4280 as declines are expected to find support at 1.4222 or 1.4194. A fall below 1.4166 could turn it bearish.
USD-CHF	Current fall is near an end of wave around 1.0616 zone, a rally should then procede to above 1.0709. Fall below 1.0574 would cancel this scenario.
GBP-USD	While above 1.6423 - 1.6379 zone a corrective upmove could test 1.6507 or 1.6548. After which it should resume its downtrend.
USD-JPY	One more dip to 93.5150 is likely followed by a grind higher to 94.3167. After which it can resume its downtrend.
EUR-JPY	Market should pop up towards 133.9250 or 134.4333 this bullish scenario would be damaged if 132.8750 - 132.3333 zone is broken, a severe break down could then occur.
EUR-CHF	It looks set to visit further lower territory down to around 1.5136. Its corrective attempts should fail ahead of 1.5196. Stop loss above 1.5230 zone.
EUR-GBP	Current upmove should be ended around 0.8658 - 0.8678. Any correction consolidation should find support in 0.8619 - 0.8600 zone.
USD-CAD	One more dip to 1.1001 - < s1> is likely followed by a grind higher to 1.1076 - 1.1113. After which it can resume its downtrend.
NZD-USD	Current upmove should be ended around 0.6592 - 0.6622. Any correction consolidation should find support in 0.6539 - 0.6516 zone.
AUD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.8221 or 0.8220 if support around 0.8155 hold. After which a pullback to 0.8155 - 0.8136 zone is possible.
XAG-USD	It looks more likely that it would rise to 13.6800 - 13.8200 from 13.5000 or 13.4300. After which a downside move is expected.
XAU-USD	There are initial signs of a good corrective recovery towards 951.2500 or even 953.4700. Supports at 946.5851 and 944.1401 zone.

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