Daily Market Comment - 10 January 2008

EUR-USD
1.4659. There is bearish potential for a fall to 1.4618 or 1.4576 while 1.4701 - 1.4722 resist. After this fall a recovery up to 1.4701 or 1.4722 is expected.
USD-CHF
1.1166. It should be subject to more sell off towards 1.1123 or 1.1081. Corrective upward swings should face resistance around 1.1221 area. A break of 1.12025 is bullish.
USD-JPY
110.03. Uptrend is still intact in a triangle configuration. It should continue to rally to 110.2 or 110.98 if support around 109.65 hold. After which a pullback to 109.65 - 109.41 zone is possible.
GBP-USD
1.9585. Market should meet resistance at 1.9634. We expect then an extended move down to 1.9559 -1.9438 area.
EUR-CHF
1.6368. It may attempt a test higher to 1.6386 after which weakness may set it to a drift down to below 1.6331 limit.
EUR-JPY
161.31. Uptrend is still intact in a triangle configuration. It should continue to rally to 161.72 or 162.62 if support around 160.99 hold. After which a pullback to 160.99 - 160.66 zone is possible.
EUR-GBP
0.7484. Current upmove should continue up to 0.7509 or 0.7534. Any correction should find support in 0.7478 - 0.7466 zone.
AUD-USD
0.8830. One move lower to 0.879 or 0.8751 is anticipated while below 0.8845 - 0.8864 area. Stop loss above 0.8899 zone.
USD-CAD
1.0101. A corrective/consolidation activity between 1.0039 and 1.0186 is likely for a while.


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