6th of April 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
6 April 2011 – 8:00 GMT
Wednesday

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


TECHNICAL DATA

EURCHF clears 1.3205.

EURUSD BULLISH Upside potential pressures 1.4282 remains intact, next resistance is at 1.4373. Near-term support lies at 1.4152.

USDJPY BULLISH The pair gained through 84.73 and 85.40 exposes 85.93. Support at 84.86 intraday low.

GBPUSD BULLISH Sharp recovery through 1.6291 has triggered positive tone and exposed 1.6401 key high. Support lies at 1.6091.

USDCHF NEUTRAL A break through 0.9340/69 would signal further gains towards 0.9423. Support lies at 0.9127 ahead of 0.9096.

AUDUSD BULLISH As long as support at 1.0202 holds, look for resistance at 1.0425 ahead of 1.0500.

USDCAD BEARISH Focus is on initial support at 0.9600 ahead of 0.9584. Resistance is at 0.9707/54 area.

EURCHF BULLISH Rise above 1.3205 has exposed 1.3287. Support is at 1.3055.

EURGBP NEUTRAL Sudden decline through 0.8776 has opened up the way towards 0.8663//55 support area. Recovery through 0.8820 would expose 0.8853 key high.

EURJPY BULLISH Momentum is positive; focus is on 122.33/61 resistance area, move above this would open 125.00. Support lies at 117.68.


SCHEDULE

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

A. White
Analyst at Fibosignals.com

DISCLAIMER: Fibosignals.com’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. Fibosignals.com assumes no responsibility or liability from gains or losses incurred by the information herein contained. Opinions, conclusions and other information expressed in this message are not given or endorsed by Fibosignals.com unless otherwise indicated by an authorized representative.