Daily Market Comments - Tuesday 01 September 2009

[RTFX-Trading]

EUR-USD	It should be subject to more sell off towards 1.4270 or 1.4208. Corrective upward swings should face resistance around 1.4376 area. A break of 1.4430 is bullish.
USD-CHF	A drift down to 1.0551 - 1.0514 from 1.0589 - 1.0612 area could be followed by a consolidation/corrective activity.
GBP-USD	It should be subject to more sell off towards 1.6234 or 1.6203. Corrective upward swings should face resistance around 1.6345 area. A break of 1.6413 is bullish.
USD-JPY	Market should hold major support at 92.4128 before rising towards 93.6067 or even 94.0933 limit.
USD-CAD	Resistances lie around 1.1014 and 1.1057. It should test lower towards 1.0853 zone. A clear break of 1.0831 would be bearish.
NZD-USD	It should test 0.6892 area after which a sell off down to 0.6807 or extended to 0.6732 area is expected.
AUD-USD	It should be subject to more sell off towards 0.8366 or 0.8293. Corrective upward swings should face resistance around 0.8520 area. A break of 0.8531 is bullish.
EUR-JPY	Market should hold major support at 131.8768 before rising towards 134.1667 or even 134.8633 limit.
EUR-CHF	It may attempt a test higher to 1.5182 - 1.5193 after which weakness may set it to a drift down to below 1.5155 limit.
EUR-GBP	It is a triangle configuration . Market should break either side. Acceleration should occur above 0.8826 or under 0.8777 limits.
GBP-CHF	Market should hold major support at 1.7193 before rising towards 1.7279 or even 1.7312 limit.
GBP-JPY	Market should hold major support at 149.7801 before rising towards 152.5667 or even 153.4733 limit.
NZD-JPY	Market should hold major support at 62.7735 before rising towards 64.1967 or even 64.5933 limit.
AUD-JPY	Market should hold major support at 77.7299 before rising towards 79.1033 or even 79.6267 limit.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 15.0633 or 15.0400 if support around 14.7900 hold. After which a pullback to 14.7900 - 14.7250 zone is possible.
XAU-USD	It looks more likely that it would rise to 959.8500 - 968.3500 from 947.9500 or 943.7000. After which a downside move is expected.

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