Daily Market Comments - Tuesday 01 June 2010

[RTFX-Trading]

EUR-USD	It may attempt a test higher to 1.2320 - 1.2338 after which weakness may set it to a drift down to below 1.2270 limit.
USD-CHF	It looks more likely that it would rise to 1.1583 - 1.1618 from 1.1542 or 1.1524. After which a downside move is expected.
GBP-USD	It may attempt a test higher to 1.4542 - 1.4580 after which weakness may set it to a drift down to below 1.4459 limit.
USD-JPY	Resistances lie around 91.44 and 91.61. It should test lower towards 90.92 zone. A clear break of 91.26 would be bearish.
USD-CAD	There is bearish potential for a fall to 1.0430 - 1.0388 while 1.0471 - 1.0500 resist. After this fall a recovery up to 1.0500 or 1.0528 is expected.
NZD-USD	It may attempt a test higher to 0.6826 - 0.6868 after which weakness may set it to a drift down to 0.6722 limit.
AUD-USD	It may attempt a test higher to 0.8487 - 0.8522 after which weakness may set it to a drift down to 0.8389 limit.
EUR-JPY	A correction down to 111.62 or lower is now expected from 112.62 or 112.96. A break above 113.62 is needed to turn bullish.
EUR-CHF	One more dip to 1.4190 - 1.4167 is likely followed by a grind higher to 1.4235 - 1.4256. After which it can resume his downtrend.
EUR-GBP	It looks more likely that it would rise to 0.8512 - 0.8559 from 0.8454 or 0.8431. After which a downside move is expected.
EUR-CAD	Market should not go lower than 1.2839 - 1.2796. After this move down it should go up to 1.2911 - 1.2940 area.
EUR-NZD	While above 1.8034 - 1.7961 zone a corrective dip could test 1.8106 or 1.8228. After which it should resume his downtrend.
EUR-AUD	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.4638 or under 1.4474 limits.
GBP-CHF	Corrective dips should ideally halt near 1.6742 or 1.6718 for one more thrust upwards towards 1.6800 - 1.6834 area or 1.6883 in extention. Fall below 1.6651 puts it back on a downward path.
GBP-JPY	It should trade lower to 131.68. Resistances are at 133.30 and 133.93. A break of 134.92 is bullish, confirmed by a close above 133.74.
GBP-CAD	One more dip to 1.5156 - 1.5121 is likely followed by a grind higher to 1.5223 - 1.5254. After which it can resume its downtrend.
GBP-AUD	Strength can extend to 1.7259 or even 1.7346 as declines are expected to find support at 1.7173 or 1.7092. Stop Loss below 1.7012 zone.
CAD-JPY	Currently uptrend should end around 87.59 - 88.05 area. A correction down to below 86.46 is expected. A rise above 88.71 will abort the expected correction.
NZD-JPY	Corrective dips should ideally halt near 61.68 or 61.34 for one more thrust upwards towards 62.40 - 62.79 area or 63.47 in extention. Fall below 60.56 puts it back on a downward path.
AUD-JPY	It should be subject to more sell off towards 76.36 or 75.52. Corrective upward swings should face resistance around 77.33 area. A break of 78.80 is bullish.
XAG-USD	It should trade lower to 18.41. Resistances are at 18.67 and 18.77. A break of 18.93 is bullish, confirmed by a close above 18.76.
XAU-USD	It should trade lower to 1211.55. Resistances are at 1219.55 and 1222.85. A break of 1227.55 is bullish, confirmed by a close above 1220.45.

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