Daily Market Comments - Wednesday 06 May 2009

[RTFX-Trading]

EUR-USD	While above 1.3305 - 1.3261 zone a corrective dip could test 1.3350 or 1.3384 or 1.3417. After which it should resume his downtrend.
USD-CHF	It should be subject to more sell off towards 1.1258 or 1.1195. Corrective upward swings should face resistance around 1.1359 area. A break of 1.1399 is bullish.
GBP-USD	While below 1.5171 it is more likely to fall further towards 1.5034 or 1.4992. Premature rise above 1.5171 could see it rising above 1.5255 zone.
USD-JPY	It should see a sell off to below 98.5500 while 98.8800 area curtails its upside. A break beyond 99.1500 will abort the downside.
EUR-JPY	While below 132.0133 - 132.2600 it might drop to 131.2267 or below 130.7333 zone.
EUR-CHF	While below 1.5104 or 1.5120 it could fall towards below 1.5060 or 1.5027. After which a corrective/consolidation activity is expected.
EUR-GBP	Overall structure is bearish. Decelerating momentum could attract it towards supports at 0.8824 or 0.8798. Major support is clustered around 0.8748 limit.
USD-CAD	It should test 1.1783 area after which a sell off down to 1.1690 or extended to 1.1628 area is expected.
NZD-USD	While below 0.5864 it is more likely to fall further towards 0.5773 or 0.5742. Premature rise above 0.5864 could see it rising above 0.5925 zone.
AUD-USD	Resistances lie around 0.7452 and 0.7529. It should test lower towards 0.7375 zone. A clear break of 0.7419 would be bearish.
XAG-USD	One move lower to 13.0300 or 12.7200 is anticipated while below 13.4750 - 13.6300 area. Stop loss above 13.9200 zone.
XAU-USD	There are initial signs of a good corrective recovery towards 906.5100 or even 910.1733. Supports at 896.3350 and 889.8234 zone.

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