Daily Market Comment - 09 January 2008


Daily Market Comment

EUR-USD
1.4707. N/A
USD-CHF
1.1125. There are initial signs of a good corrective recovery towards 1.1158 or even 1.1171. Supports at 1.1122 and 1.1099 zone.
USD-JPY
108.90. Preferred view is for a fall to below 108.56 while 108.9 - 109.2 area resists. A clear break of 109.53 would be bullish.
GBP-USD
1.9731. It is a triangle configuration. Market should break either side. Acceleration should occur above 1.9828 or under 1.9665 limits.
EUR-CHF
1.6362. There are initial signs of a good corrective recovery towards 1.6407 or even 1.6423. Supports at 1.6359 and 1.6328 zone.
EUR-JPY
160.14. There are initial signs of a good corrective recovery towards 160.83 or even 161.06. Supports at 160.13 and 159.66 zone.
EUR-GBP
0.7454. Market should hold major support at 0.7410 before rising towards 0.7473 or even 0.7492 limit.
AUD-USD
0.8786. Strength can extend to 0.8813 or even higher than 0.8849 as declines are expected to find support at 0.8745 or 0.8714. A fall below 0.8641 could turn it bearish.
USD-CAD
1.0064. It should be subject to more sell off towards 0.9994 or 0.9925. Corrective upward swings should face resistance around 1.0149 area. A break of 1.0126 is bullish.

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