DAILY MARKET COMMENTARY
9 February 2011 – 8:00 GMT
Wednesday
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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA
EURCHF breaks 1.3069.
EURUSD BULLISH Pullback found support at 1.3509; focus is on 1.3741 break of which is required to refocus towards 1.3862 recent high.
USDJPY NEUTRAL While support holds at 81.13, initial resistance is at 82.47.
GBPUSD BULLISH Expect gains to target 1.6186 ahead of 1.6279/99 zone. Near-term support is defined at 1.6010.
USDCHF BULLISH Breach of 0.9610 has put focus on 0.9687 ahead of 0.9764; support at 0.9524.
AUDUSD BULLISH Upside potential targets 1.0200/56 resistance zone. Support lies at 1.0083.
USDCAD NEUTRAL Rise through 0.9932 has turned the model to neutral; resistance lies at 0.9978 while support is at 0.9832/20 zone.
EURCHF BULLISH Move above 1.3069 has open up the way towards 1.3206/87 resistance zone. Support at 1.2973.
EURGBP BEARISH Recovery through 0.8477 exposes 0.8564; while this resistance holds focus is on the downside with initial support defined at 0.8389.
EURJPY BULLISH Focus is on 112.92, break of this would expose 114.01 next. Support zone is at 110.78/32.
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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