Daily Market Comments - Tuesday 12 May 2009

[RTFX-Trading]

EUR-USD	A corrective rise should ideally test 1.3647 or even higher than 1.3712. Supports are at 1.3522. Stop loss below 1.3492 zone.
USD-CHF	It should try higher up to 1.1100 - 1.1127. Entry point 1.1074 or 1.1058. After this rise, a correction is expected.
GBP-USD	It looks more likely that it would rise to 1.5219 - 1.5321 from 1.5093 or 1.5042. After which a downside move is expected.
USD-JPY	Market should not go lower than 96.8696. After this move down it should go up to 98.1550 - 98.4533 area.
EUR-JPY	There is bearish potential for a fall to 131.3767 while 133.1033 - 133.6200 resist. After this fall a recovery up to 133.6200 or 134.1367 is expected.
EUR-CHF	Market should hold major support at 1.5010 before rising towards 1.5095 or even 1.5123 limit.
EUR-GBP	Preferred view is for a fall to 0.8966 - 0.8942 while 0.9011 - 0.9032 area resists. A clear break of 0.9079 would be bullish.
USD-CAD	It should be subject to more sell off towards 1.1573 or 1.1540. Corrective upward swings should face resistance around 1.1857 area. A break of 1.1802 is bullish.
NZD-USD	There are initial signs of a good corrective recovery towards 0.6065 or even 0.6087. Supports at 0.5999 and 0.5956 zone.
AUD-USD	There are initial signs of a good corrective recovery towards 0.7650 or even 0.7672. Supports at 0.7584 and 0.7540 zone.
XAG-USD	It may attempt a test higher to 14.0000 - 14.1033 after which weakness may set it to a drift down to 13.7533 limit.
XAU-USD	Current upmove should continue up to 917.9766 or 922.5633. Any correction should find support in 913.3633 - 911.0699 zone. A break above913.6505 could accelerate the move up.

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