Daily Market Comment - 25 January 2008



EUR-USD
1.4755. Uptrend is still intact in a triangle configuration. It should continue to rally to 1.4782 or 1.4896 if support around 1.4708 hold. After which a pullback to 1.4708 - 1.4673 zone is possible.
USD-CHF
1.0879. A drift to below 1.0838 or maximum 1.0798 is expected to precede a rally towards above 1.0908 or 1.0928. Fall below 1.0798 would be bearish.
USD-JPY
107.17. It looks set for gains to above 107.59. Supports at 106.56 and 106.77. A break of 106.34 will damage this bullish structure.
GBP-USD
1.9765. Market looks set for gains towards 1.9863 or above in extension. Dips should find support at 1.9682 - 1.9633 zone.
EUR-CHF
1.6052. It should be subject to more sell off towards 1.5941 or 1.5831. Corrective upward swings should face resistance around 1.6206 area. A break of 1.6141 is bullish.
EUR-JPY
158.12. Market looks set for gains towards 159.28 or above in extension. Dips should find support at 157.07 - 156.49 zone.
EUR-GBP
0.7465. Our preferred outlook is for a drift down to 0.7453 or below 0.7441. Resistances are at 0.7465 and 0.7472. A rise above 0.7484 would delay but not abort this expected fall.
AUD-USD
0.8821. A corrective/consolidation activity between 0.8735 and 0.8950 is likely for a while.
USD-CAD
1.0038. Market should not go lower than 0.9925. After this move down it should go up to 1.0026 - 1.0103 area.


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