DAILY MARKET COMMENTARY
21 February 2011 – 8:00 GMT
Monday
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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA
EURUSD 1.3744 resistance.
EURUSD BULLISH Rise above 1.3696 has exposed 1.3744 ahead of 1.3826. Near-term support at 1.3546.
USDJPY BULLISH Pullback through 83.10 has exposed 82.89. While this level holds, expect recovery towards 83.98.
GBPUSD BULLISH The pair targets 1.6279/99 resistance zone. Support is defined at 1.6149.
USDCHF BEARISH Violation of 0.9451 triggers negative tone. Next support lies at 0.9329/01 area. Initial resistance at 0.9539.
AUDUSD BULLISH Momentum is positive; break above 1.0200 would expose 1.0256, support defined at 1.0018.
USDCAD BEARISH Move below 0.9816 would expose 0.9745/12 area. Near-term resistance at 0.9905.
EURCHF NEUTRAL Initial resistance is at 1.3029 ahead of 1.3131, support lies at 1.2867.
EURGBP BEARISH Remains heavy below 0.8450; a push below 0.8356 would expose 0.8332/13 zone.
EURJPY BULLISH Look for a break above114.94 for extension of the bull trend towards 115.42/68. Near-term support holds at 112.95.
SCHEDULE
Please visit Fibosignals.com’s Economic Calendar for a schedule of market news and events.
A. M. Negrin Bautista, CFA
Chief Analyst at Fibosignals.com
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