Daily Market Comment - 14 January 2008





EUR-USD
1.4777. Decline should be supported around 1.4752 - 1.4728 zone for rally to above 1.4844. A clear break of 1.4728 will damage this expected rally.
USD-CHF
1.1017. It should test higher than 1.1051. Entry point are at 1.0998 and 1.0981. A break of 1.0945 is bearish.
USD-JPY
108.98. It is likely to attempt to below 108.03 while below 108.98 - 109.11 area. Rise above 109.58 would dampen this bearish expectation.
GBP-USD
1.9565. It should trade higher to above 1.9639 while 1.9562 offer support. Minor support at 1.9525. Stop Loss below 1.9410 zone.
EUR-CHF
1.6280. It is likely to attempt nearer support at 1.6235 for extending further to below 1.6191 while below 1.6280 - 1.6315 area. Rise above 1.6337 would dampen this bearish expectation.
EUR-JPY
161.04. There is bearish potential for a fall to below 160.37. up correction could find resistance around 161.33. Rise above 161.67 could weaken this bearish view.
EUR-GBP
0.7553. Should test support at 0.7531 while below 0.7553. If support at 0.7531 holds it can rise up to 0.7581, if not it should fall to below 0.7508 zone.
AUD-USD
0.8910. There are initial signs of a good corrective recovery towards 0.8941 or even 0.8954. Supports at 0.8905 and 0.8882 zone.
USD-CAD
1.0196. Uptrend is still intact in a triangle configuration. It should continue to rally to 1.0221 or 1.0315 if support around 1.0162 hold. After which a pullback to 1.0162 - 1.0133 zone is possible.



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