11th of April 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
11 April 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

EURGBP targets 0.8853.

EURUSD BULLISH Upside potential holds below 1.4500 ahead of the 1.4512/79 resistance area. Support is at 1.4291.

USDJPY BULLISH Push through the 85.53/93 resistance zone would expose 86.38. Initial support is at 84.51.

GBPUSD BULLISH Next resistance above 1.6458 lies at 1.6516, while initial support is at 1.6257.

USDCHF BEARISH Break of 0.9038 would expose 0.8964 and 0.8852. Resistance is at 0.9200.

AUDUSD BULLISH Outlook remains bullish; the pair targets 1.0600/40 resistance zone. Support is at 1.0412.

USDCAD BEARISH Downtrend is intact; support is at 0.9513/00 area. Resistance lies at 0.9642.

EURCHF BULLISH While support at 1.3055 holds, expect gains towards 1.3243 and 1.3287 next.

EURGBP BULLISH Following the break of 0.8820, the cross targets 0.8853. Support is at 0.8759.

EURJPY BULLISH Clearance of 123.33 would signal further gains towards 125.00. Support lies at 121.34.


SCHEDULE

Please visit Fibosignals.com’s Economic Calendar for a schedule of market news and events.

A. White
Analyst at Fibosignals.com

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