Daily Market Comment - 30 November 2007


EUR-USD
1.4744. Overall structure is bearish. Decelerating momentum could attract it towards supports at 1.4701 or 1.4697. Major support is clustered around 1.4666 limit.
USD-CHF
1.1179. While below 1.1223 it is more likely to fall further towards 1.1142 or 1.11200. Premature rise above 1.1223 could see it rising above 1.1267 zone.
USD-JPY
109.93. Strength can extend to 110.12 or even higher than 110.34 as declines are expected to find support at 109.70 or 109.50. A fall below 109.06 could turn it bearish.
GBP-USD
2.0613. Prefer a fall to 2.0604 or 2.0531. Then a correction to 2.0718 is anticipated. A clear break of 2.0450 is again bearish.
EUR-CHF
1.6482. Decline should be supported around 1.6467 - 1.6451 zone for rally to above 1.6525. A clear break of 1.6451 will damage this expected rally.
EUR-JPY
162.09. Current move should be supported in 161.83 zone for a rise to above 164.47. A break below 160.37 opens the way down.
EUR-GBP
0.7152. It should be subject to more sell off towards 0.7130 or 0.7109. Corrective upward swings should face resistance around 0.7165 area. A break of 0.7178 is bullish.
AUD-USD
0.8813. While above 0.8794 - 0.8757 zone a corrective upmove could test 0.8859 or 0.8886. After which it should resume its downtrend.
USD-CAD
0.9983. It should trade lower to 0.9881. Resistances are at 0.9989 and 1.0039. A break of 1.0119 is bullish.


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