21st of April 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
21 April 2011 – 8:00 GMT
Thursday

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Market Analysis Desk
Foreign Exchange Research: www.fibosignals.com/5585/resources.html
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TECHNICAL DATA

EURUSD 1.4685 resistance.

EURUSD BULLISH Clearance of 1.4579 has exposed 1.4685. Support lies at 1.4328.

USDJPY BEARISH Initial support is at 82.00 ahead of 81.55; break through the levels would confirm the bear trend. Resistance is at 83.10.

GBPUSD BULLISH Upper boundary of the 1.6428/58 resistance area holds; a break here would expose 1.6500. Initial support is at 1.6308.

USDCHF BEARISH Pressure on 0.8852/23 support zone. Near-term resistance lies at 0.9012.

AUDUSD BULLISH Rise through 1.0705 has opened up the way towards 1.0845. Support lies at 1.0519.

USDCAD BEARISH Move below 0.9500 signals scope for further losses towards 0.9446. Resistance lies at 0.9600.

EURCHF BEARISH Break of 1.2730 would expose 1.2624; while resistance holds at 1.3000.

EURGBP BULLISH Momentum is positive; expect the cross to target 0.8924/42 area. Initial support is at 0.8780.

EURJPY NEUTRAL Climb through 120.71 would signal potential for gains to 121.48 and 122.41 next. Support is at 118.27.


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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