Daily Market Comments - Monday 05 April 2010

[RTFX-Trading]

EUR-USD	There is bearish potential for a fall to 1.3447 while 1.3519 - 1.3541 resist. After this fall a recovery up to 1.3541 or 1.3563 is expected.
USD-CHF	Currently uptrend should end around 1.0667 - 1.0663 area. A correction down to below 1.0556 is expected. A rise above 1.0707 will abort the expected correction.
GBP-USD	It looks more likely that it would rise to 1.5274 - 1.5343 from 1.5194 or 1.5159. After which a downside move is expected.
USD-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 95.01 or 94.95 if support around 94.30 hold. After which a pullback to 94.30 - 94.10 zone is possible.
USD-CAD	It may attempt a test higher to 1.0118 - 1.0131 after which weakness may set it to a drift down to below 1.0082 limit.
NZD-USD	It may meet resistance in 0.7065 - 0.7072 zone for a drift down to below 0.7046 zone.
AUD-USD	Decline should be supported around 0.9178 - 0.9165 zone for rally to above 0.9210. A clear break of 0.9165 will damage this expected rally.
EUR-JPY	While below 127.74 - 128.03 it is more likely to fall further towards 127.23 or 127.00. Premature rise above 128.03 could see it rising above 128.49 zone.
EUR-CHF	Our preferred view is for a drift down to 1.4307 or below 1.4290. Resistances is at 1.4308. A rise above 1.4346 would delay but not abort this expected fall.
EUR-GBP	We prefer to see an attempt to below 0.8861 or below 0.8850 in extension. A clear break of 0.8884 is bullish.
EUR-CAD	Market should not go lower than 1.3621 - 1.3584. After this move down it should go up to 1.3685 - 1.3710 area.
EUR-NZD	There are initial signs of a good corrective recovery towards 1.9164 or even 1.9188. Supports at 1.9101 and 1.9062 zone.
EUR-AUD	There is bearish potential for a fall to 1.4634 while 1.4706 - 1.4727 resist. After this fall a recovery up to 1.4727 or 1.4749 is expected.
GBP-CHF	Current rise should end around 1.6157 or 1.6177. Objectives of this downmove are 1.6105 or 1.6064. A rise above 1.6209 is again bullish.
GBP-JPY	Currently uptrend should end around 144.38 - 144.24 area. A correction down to below 143.04 is expected. A rise above 144.70 will abort the expected correction.
GBP-CAD	Market should pop up towards 1.5411 or 1.5442 this bullish scenario would be damaged if 1.5344 - 1.5308 zone is broken, a severe break down could then occur.
GBP-AUD	There is bearish potential for a fall to 1.6496 while 1.6561 - 1.6584 resist. After this fall a recovery up to 1.6584 or 1.6607 is expected.
CAD-JPY	Current rise should end around 94.05. Objectives of this downmove are 92.84 or 92.13. A rise above 94.54 is again bullish.
NZD-JPY	It should try higher up to 66.82 - 67.05. Entry point 66.59 or 66.44. After this rise, a correction is expected.
AUD-JPY	Currently uptrend should end around 87.40 - 87.29 area. A correction down to below 86.32 is expected. A rise above 87.67 will abort the expected correction.
XAG-USD	A corrective rise should ideally test 17.90 or even higher than 17.99. Supports are at 17.68. Stop loss below 17.72 zone.
XAU-USD	Uptrend is still intact. It should continue to rally to 1126.80 or 1129.37 if supports at 1124.23 area hold. Then we anticipate a pullback to 1124.23 - 1122.80 zone.

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

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