Daily Market Comment - 16 January 2008



EUR-USD
1.4804. Preferred view is for a fall to below 1.4762 while 1.4804 - 1.4842 area resists. A clear break of 1.4884 would be bullish.
USD-CHF
1.0929. It should test higher than 1.0964. Entry point are at 1.0892 and 1.0874. A break of 1.082 is bearish.
USD-JPY
106.78. Market should not go lower than 105.78. After this move down it should go up to 106.70 - 107.24 area.
GBP-USD
1.9627. While below 1.9632 or 1.9685 it could fall towards below 1.9521 or 1.9416. After which a corrective/consolidation activity is expected.
EUR-CHF
1.6178. It should register further gains to 1.6232 while 1.6149 caps downside attempts. Stop loss below 1.6119 zone.
EUR-JPY
158.08. Overall structure is bearish. Decelerating momentum could attract it towards supports at 157.18 or 157.04. Major support is clustered around 155.17 limit.
EUR-GBP
0.7542. There is bearish potential for a fall to 0.7508 or 0.7474 while 0.7578 - 0.7595 resist. After this fall a recovery up to 0.7578 or 0.7595 is expected.
AUD-USD
0.8808. There is bearish potential for a fall to 0.8736 or 0.8663 while 0.8914 - 0.8950 resist. After this fall a recovery up to 0.8914 or 0.895 is expected.
USD-CAD
1.0184. It may attempt a test higher to 1.0191 after which weakness may set it to a drift down to below 1.0141 limit.


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