Daily Market Comments - Wednesday 16 June 2010

[RTFX-Trading]

EUR-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.2419 or 1.2399 if support around 1.2283 hold. After which a pullback to 1.2283 - 1.2250 zone is possible.
USD-CHF	Market should not go lower than 1.1312 - 1.1256. After this move down it should go up to 1.1406 - 1.1443 area.
GBP-USD	One move lower to 1.4712 or 1.4620 is anticipated while below 1.4820 - 1.4866 area. Stop loss above 1.4929 zone.
USD-JPY	Market should hold major support at 91.09 before rising towards 91.74 or even 92.02 limit.
USD-CAD	It might hold above 1.0248 or around 1.0242 for a rise towards above 1.0329. Stop loss below 1.0210 zone.
NZD-USD	It should trade lower to 0.6919. Resistances are at 0.7026 and 0.7064. A break of 0.7134 is bullish, confirmed by a close above 0.7083.
AUD-USD	It should find support in 0.8581 - 0.8554 area for a rally to 0.8763. Unexpected fall below 0.8452 will dent this bullish view.
EUR-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 112.98 or 113.60 if support around 112.23 hold. After which a pullback to 112.23 - 111.82 zone is possible.
EUR-CHF	It looks more likely that it would rise to 1.4039 from 1.3943 or 1.3910. After which a downside move is expected.
EUR-GBP	It should be subject to more sell off towards 0.8296 or 0.8283. Corrective upward swings should face resistance around 0.8392 area. A break of 0.8385 is bullish.
EUR-CAD	Strength can extend to 1.2675 or 1.2711 as declines are expected to find support at 1.2639 or 1.2606. A fall below 1.2573 could turn it bearish.
EUR-NZD	Strength can extend to 1.7689 or even higher than 1.7735 as declines are expected to find support at 1.7600 or 1.7556. A fall below 1.7465 could turn it bearish.
EUR-AUD	Resistances lie around 1.4290 and 1.4317. It should test lower towards 1.4194 zone. A clear break of 1.4202 would be bearish.
GBP-CHF	It is a triangle configuration. Market should break either side. Acceleration should occur above 1.6923 or under 1.6734 limits.
GBP-JPY	Uptrend is still intact in a triangle configuration. It should continue to rally to 135.96 or 136.06 if support around 135.00 hold. After which a pullback to 135.00 - 134.67 zone is possible.
GBP-CAD	There are initial signs of a good corrective recovery towards 1.5226 or even 1.5253. Supports at 1.5164 and 1.5127 zone.
GBP-AUD	There are initial signs of a good corrective recovery towards 1.7202 or even 1.7238. Supports at 1.7098 and 1.7031 zone.
CAD-JPY	It should trade lower to 88.34. Resistances are at 89.69 and 90.18. A break of 91.03 is bullish, confirmed by a close above 90.25.
NZD-JPY	It should be subject to more sell off towards 63.33 or 63.13. Corrective upward swings should face resistance around 65.03 area. A break of 64.72 is bullish.
AUD-JPY	It should trade lower to 78.06. Resistances are at 79.73 and 80.29. A break of 81.40 is bullish, confirmed by a close above 80.77.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 18.78 or 18.75 if support around 18.48 hold. After which a pullback to 18.48 - 18.38 zone is possible.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1236.24 or 1240.83 if support around 1230.37 hold. After which a pullback to 1230.37 - 1227.05 zone is possible.

Trading Desk, RTFX Ltd
16th September Square Mosta, MST 1180 Malta
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.