Daily Market Comment - 20 February 2008



Daily Market Comment


EUR-USD
1.4725. Current rise seems to be over near 1.4741 or 1.4774 for a retracement towards 1.4708 - 1.4684 area.
USD-CHF
1.0941. There is bearish potential for a fall to 1.0892 while 1.0959 - 1.0984 resist. After this fall a recovery up to 1.0984 or 1.1008 is expected.
USD-JPY
107.77. It may attempt a test higher to 108.03 after which weakness may set it to a drift down to below 107.23 limit.
GBP-USD
1.9485. It may meet resistance in 1.9485 - 1.9493 zone for a drift down to 1.9460 zone, after which bounce to 1.9514 is anticipated.
EUR-CHF
1.6112. Decline should be supported around 1.6080 - 1.6048 zone for rally to above 1.6190. A clear break of 1.6048 will damage this expected rally.
EUR-JPY
158.70. Market looks set for gains towards 159.19 or above in extension. Dips should find support at 158.57 - 158.33 zone.
EUR-GBP
0.7557. Uptrend is still intact in a triangle configuration. It should continue to rally to 0.7597 or 0.7610 if support around 0.7543 hold. After which a pullback to 0.7543 - 0.7530 zone is possible.
AUD-USD
0.9190. One move lower to 0.9138 or 0.9087 is anticipated while below 0.9214 - 0.9239 area. Stop loss above 0.9289 zone.
USD-CAD
1.0171. Market looks set for gains towards 1.0225 or above in extension. Dips should find support at 1.0123 - 1.0096 zone.



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