Daily Market Comments - Tuesday 23 February 2010

[RTFX-Trading]

EUR-USD	Resistances lie around 1.3625 and 1.3641. It should test lower towards 1.3562 zone. A clear break of 1.3558 would be bearish.
USD-CHF	It may meet resistance in 1.0762 - 1.0763 zone for a drift down to 1.0738 zone, after which bounce to 1.0787 is anticipated.
GBP-USD	It may attempt a test higher to 1.5501 - 1.5524 after which weakness may set it to a drift down to below 1.5436 limit.
USD-JPY	Market should not go lower than 91.09 - 90.81. After this move down it should go up to 91.53 - 91.69 area.
USD-CAD	It should test 1.0478 area after which a sell off down to 1.0387 or extended to 1.0344 area is expected.
NZD-USD	While below 0.7026 - 0.7038 it is more likely to fall further towards 0.7004 or 0.6993. Premature rise above 0.7038 could see it rising above 0.7060 zone.
AUD-USD	While below 0.9014 - 0.9028 it is more likely to fall further towards 0.8989 or 0.8977. Premature rise above 0.9028 could see it rising above 0.9052 zone.
EUR-JPY	It looks more likely that it would rise to 124.89 - 125.87 from 123.78 or 123.30. After which a downside move is expected.
EUR-CHF	Preferred outlook is for a drift down to below 1.4608. Resistances are at 1.4632 and 1.4643. A rise above 1.4649 would delay but not abort this expected fall.
EUR-GBP	There are initial signs of a good corrective recovery towards 0.8799 or even 0.8812. Supports at 0.8771 and 0.8756 zone.
EUR-CAD	It looks set for gains to 1.4210. Supports at 1.4148 and 1.4133. A break of 1.4086 will damage this bullish structure.
EUR-NZD	Bullish reaction to above 1.9451 is anticipated from 1.9380 - 1.9368 zone. Stop loss below 1.9332 zone.
EUR-AUD	Our preferred outlook is for a drift down to 1.5074 or below 1.5049. Resistances are at 1.5100 and 1.5117. A rise above 1.5142 would delay but not abort this expected fall.
GBP-CHF	One more dip to 1.6640 - 1.6614 is likely followed by a grind higher to 1.6713.
GBP-JPY	It looks set to visit further lower territory down to around 140.96 - 140.55. Its corrective attempts should fail ahead of 140.96 - 141.93. Stop loss above 142.76 zone.
GBP-CAD	It should test 1.6233 area after which a sell off down to 1.6067 or extended to 1.5986 area is expected.
GBP-AUD	It may meet resistance in 1.7194 - 1.7201 zone for a drift down to 1.7147 zone, after which bounce to 1.7247 is anticipated.
CAD-JPY	Support at 87.29 or 86.91 should hold. Then a correction to above 88.94 is anticipated. A clear break of 86.42 is again bearish.
NZD-JPY	Current move should be supported in 63.86 - 63.65 zone for a rise to 64.36. A break below 63.35 opens the way down.
AUD-JPY	It looks more likely that it would rise to 82.66 - 83.25 from 81.93 or 81.64. After which a downside move is expected.
XAG-USD	There are initial signs of a good corrective recovery towards 16.40 or even 16.49. Supports at 16.20 and 16.08 zone.
XAU-USD	There are initial signs of a good corrective recovery towards 1122.72 or even 1126.92. Supports at 1112.27 and 1106.02 zone.

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

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.