Daily Market Comments - Tuesday 16 March 2010

[RTFX-Trading]

EUR-USD	There is bearish potential for a fall to 1.3618 while 1.3697 - 1.3726 resist. After this fall a recovery up to 1.3726 or 1.3754 is expected.
USD-CHF	It should test 1.0634 area after which a sell off down to 1.0584 or extended to 1.0550 area is expected.
GBP-USD	There is bearish potential for a fall to 1.4979 while 1.5093 - 1.5130 resist. After this fall a recovery up to 1.5130 or 1.5167 is expected.
USD-JPY	Our preferred outlook is for a drift down to 90.30 or below 90.10. Resistances are at 90.49 and 90.55. A rise above 90.74 would delay but not abort this expected fall.
USD-CAD	It should see a sell off to below 1.0160 while 1.0212 area curtails its upside. A break beyond 1.0227 will abort the downside.
NZD-USD	It looks more likely that it would rise to 0.7055 from 0.7004 or 0.6987. After which a downside move is expected.
AUD-USD	It may attempt a test higher to 0.9158 - 0.9179 after which weakness may set it to a drift down to 0.9096 limit.
EUR-JPY	There is bearish potential for a fall to 123.06 while 124.01 - 124.36 resist. After this fall a recovery up to 124.36 or 124.71 is expected.
EUR-CHF	One more dip to 1.4515 - 1.4493 is likely followed by a grind higher to 1.4551 - 1.4565. After which it can resume its downtrend.
EUR-GBP	While above 0.9066 - 0.9045 zone a corrective dip could test 0.9087 or 0.9128. After which it should resume his downtrend.
EUR-CAD	It might hold above 1.3933 or 1.3905 for a rise towards above 1.3992. Stop loss below 1.3874 zone.
EUR-NZD	Market should not go lower than 1.9473 - 1.9428. After this move down it should go up to 1.9543 - 1.9567 area.
EUR-AUD	Current move should be supported in 1.4957 - 1.4928 zone for a rise to 1.5024. A break below 1.4890 opens the way down.
GBP-CHF	One more dip to 1.5951 is likely followed by a grind higher to 1.6081. After which it can resume its downtrend.
GBP-JPY	It looks more likely that it would rise to 137.50 - 138.80 from 136.01 or 135.36. After which a downside move is expected.
GBP-CAD	Market should pop up towards 1.5400 or 1.5434 this bullish scenario would be damaged if 1.5319 - 1.5272 zone is broken, a severe break down could then occur.
GBP-AUD	Current move should be supported in 1.6461 - 1.6412 zone for a rise to 1.6568. A break below 1.6354 opens the way down.
CAD-JPY	It looks more likely that it would rise to 89.27 from 88.57 or 88.33. After which a downside move is expected.
NZD-JPY	It looks more likely that it would rise to 63.98 - 64.42 from 63.35 or 63.13. After which a downside move is expected.
AUD-JPY	No comment!
XAG-USD	It should test 17.26 area after which a sell off down to 17.00 or extended to 16.88 area is expected.
XAU-USD	It should be subject to more sell off towards 1105.23 or 1103.62. Corrective upward swings should face resistance around 1115.90 area. A break of 1115.53 is bullish.

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.