DAILY MARKET COMMENTARY
9 March 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
EURGBP 0.8654/72 resistance.
EURUSD BULLISH Focus is on 1.3989 yesterday's high, move above this would open up 1.4036/86 area next. Support is defined at 1.3833.
USDJPY NEUTRAL Recovery from 81.57 signals potential for gains towards 83.07/41 zone. Short-term support defined at 81.95.
GBPUSD NEUTRAL Pull back from 1.6344 has turned the model to neutral; break of this level is required for resumption of uptrend. Near-term support is at 1.6072.
USDCHF BEARISH Support at 0.9200 holds, move below this would open 0.8951 next. Near-term resistance at 0.9392.
AUDUSD NEUTRAL Initial resistance is at 1.0202, break of this would expose key resistance 1.0256. Near-term support is at 1.0002.
USDCAD BEARISH Bearish outlook is intact; support zone is at 0.9700/0.9684. Resistance is defined at 0.9776.
EURCHF BULLISH Focus is on 1.3138, break of this level would expose 1.3205. Support at 1.2788 holds.
EURGBP BULLISH Outlook remains bullish with focus on 0.8654/72 resistance area. Near-term support is at 0.8566.
EURJPY BULLISH While support at 114.19 holds, the cross targets 116.00/65 resistance zone.
SCHEDULE
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A. M. Negrin Bautista, CFA
Chief Analyst at Fibosignals.com
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