DAILY MARKET COMMENTARY
13 April 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 focus on 0.8942.
EURUSD BULLISH Break of 1.4500/12 has signaled further gains towards 1.4579 and 1.4685. Initial support is at 1.4377.
USDJPY BULLISH Rise above 84.79 and 85.00 would expose 85.53/93 resistance area, while support holds at 83.13.
GBPUSD BULLISH Focus is on 1.6428, break above this would expose 1.6458 ahead of 1.6516. Initial support is at 1.6183.
USDCHF BEARISH Following the break of 0.8964, the pair targets 0.8852/23 support area. Resistance is at 0.9105.
AUDUSD BULLISH Initial resistance is at 1.0584 ahead of 1.0600/40 area, while support lies at 1.0315.
USDCAD BEARISH As long as resistance at 0.9698 holds, expect the pair to target 0.9527/00 support zone.
EURCHF NEUTRAL Move below 1.2933 would trigger a reversal and expose 1.2889; initial resistance is at 1.3097 ahead of 1.3166.
EURGBP BULLISH Focus is on key high 0.8942, break of this would open way to 0.9001. Near-term support lies at 0.8823.
EURJPY BULLISH A break above 123.33 would signal scope for further gains towards 125.00. Support lies at 120.00.
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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