Daily Market Comment - 17 January 2008



EUR-USD
1.4653. Market should meet resistance at 1.4702. We expect then an extended move down to 1.4555 -1.4503 area.
USD-CHF
1.1004. It should trade higher to 1.1073 while 1.0955 or 1.0921 offers support. Stop loss below 1.0887 zone.
USD-JPY
107.63. It may attempt a test higher to 107.78 after which weakness may set it to a drift down to below 106.39 limit.
GBP-USD
1.9635. Current upmove should continue up to 1.9727 or 1.9820. Any correction should find support in 1.9629 - 1.9583 zone.
EUR-CHF
1.6126. It may meet resistance in 1.6126 - 1.6131 zone for a drift down to 1.6080 zone, after which bounce to 1.6154 is anticipated.
EUR-JPY
157.72. It should test higher than 158.70. Entry point are at 157.01 and 156.51. A break of 155.31 is bearish.
EUR-GBP
0.7462. Market should not go lower than 0.7408. After this move down it should go up to 0.7451 - 0.7493 area.
AUD-USD
0.8796. It may meet resistance in 0.8796 - 0.8803 zone for a drift down to 0.8776 zone, after which bounce to 0.8832 is anticipated.
USD-CAD
1.0252. Current rise seems to be over near 1.0268 or 1.0306 for a retracement towards 1.0230 - 1.0203 area.


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