Daily Market Comments - Tuesday 21 April 2009

[RTFX-Trading]

EUR-USD	It may meet resistance in 1.2920 - 1.2954 zone for a drift down to 1.2818 zone, after which bounce to 1.2987 is anticipated.
USD-CHF	Should test support at 1.1648 while below 1.1688. If support at 1.1648 holds it can rise up to 1.1735, if not it should fall to below 1.1608 zone.
GBP-USD	Market should not go lower than 1.4353. After this move down it should go up to 1.4519 - 1.4617 area.
USD-JPY	Market should meet resistance at 98.3233. We expect then an extended move down to 97.3629 - 96.6300 area.
EUR-JPY	Market should not go lower than 124.4465. After this move down it should go up to 126.3300 - 127.4067 area.
EUR-CHF	While above 1.5102 - 1.5062 zone a corrective upmove could test 1.5164 or 1.5186. After which it should resume its downtrend.
EUR-GBP	Current rise seems to be over near 0.8902 or 0.8937 for a retracement towards 0.8866 - 0.8842 area.
USD-CAD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1.2502 or 1.2578 if support around 1.2304 hold. After which a pullback to 1.2304 - 1.2257 zone is possible.
NZD-USD	Overall structure is bearish. Decelerating momentum could attract it towards supports at 0.5446 or 0.5438. Major support is clustered around 0.5378 limit.
AUD-USD	Overall structure is bearish. Decelerating momentum could attract it towards supports at 0.6904 or 0.6866. Major support is clustered around 0.6705 limit.
XAG-USD	It should be subject to more sell off towards 11.8767 or 11.6633. Corrective upward swings should face resistance around 12.2600 area. A break of 12.3250 is bullish.
XAU-USD	Current rise seems to be over near 886.5350 or 893.7134 for a retracement towards 879.3567 - 874.7750 area.

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