20th of April 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
20 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

AUDUSD clears 1.0584

EURUSD NEUTRAL With the break of 1.4382 bull trend continues. Next resistance levels are at 1.4450 and 1.4520. Support is at 1.4158/52.

USDJPY NEUTRAL Initial support is at 82.00, followed by 81.55; resistance is at 83.27/78 area.

GBPUSD BULLISH The pair regains momentum; a move above 1.6385 would expose 1.6428, while support lies at 1.6230.

USDCHF BEARISH Focus is on 0.8852/23 support area. Near-term resistance lies at 0.9076.

AUDUSD BULLISH Climb through 1.0584 has opened up the way towards 1.0600/40 area. Support lies at 1.0443.

USDCAD BEARISH Outlook is bearish with focus on 0.9527/00 support zone. Resistance lies at 0.9667.

EURCHF BEARISH Break of initial support 1.2730 would expose 1.2624. Near-term resistance is at 1.2987.

EURGBP NEUTRAL Break through 0.8714/07 area would trigger a bearish tone, while resistance lies at 0.8849.

EURJPY NEUTRAL 120.00 and 116.48 mark the near-term directional triggers.


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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