Daily Market Comments - Tuesday 08 September 2009

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EUR-USD Current rise should end around 1.4347 or 1.4362. Objectives of this downmove are 1.4301 or 1.4271. A rise above 1.4393 is again bullish.

USD-CHF Market should hold major support at 1.0544 before rising towards 1.0620 or even 1.0641 limit.

GBP-USD It looks more likely that it would rise to 1.6419 - 1.6489 from 1.6337 or 1.6302. After which a downside move is expected.

USD-JPY While below 93.1900 - 93.3100 it is more likely to fall further towards 92.9550 or 92.8400. Premature rise above 93.3100 could see it rising above 93.5400 zone.

USD-CAD It may meet resistance in 1.0782 - 1.0797 zone for a drift down to 1.0726 zone, after which bounce to 1.0853 is anticipated.

NZD-USD One move lower to 0.6892 or 0.6856 is anticipated while below 0.6931 - 0.6949 area. Stop loss above 0.6970 zone.

AUD-USD One move lower to 0.8520 or 0.8482 is anticipated while below 0.8567 - 0.8586 area. Stop loss above 0.8614 zone.

EUR-JPY Should test support at 132.9600 while below 133.4100. If support at 132.9600 holds it can rise up to 133.8700, if not it should fall to below 132.5100 zone.

EUR-CHF Corrective dips should halt near 1.5142 for one more thrust upwards towards 1.5196. Stop loss below 1.5126 zone.

EUR-GBP Current rise seems to be over near 0.8773 or 0.8792 for a retracement towards 0.8755 - 0.8742 area.

GBP-CHF There is bearish potential for a fall to 1.7286 while 1.7346 - 1.7367 resist. After this fall a recovery up to 1.7367 or 1.7388 is expected.

GBP-JPY There are initial signs of a good corrective recovery towards 152.7050 or even 153.0733. Supports at 151.8750 and 151.4133 zone.

NZD-JPY One move lower to 64.0867 or 63.7033 is anticipated while below 64.5650 - 64.7567 area. Stop loss above 65.0433 zone.

AUD-JPY One move lower to 79.2367 or 78.8433 is anticipated while below 79.7400 - 79.9367 area. Stop loss above 80.2433 zone.

XAG-USD Currently uptrend should end around 16.4100 - 16.4433 area. A correction down to below 16.2133 is expected. A rise above 16.5267 will abort the expected correction.

XAU-USD It should find support in 993.0750 - 991.8366 area for a rally to 999.9532. Unexpected fall below 988.6733 will dent this bullish view.