8th of April 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
8 April 2011 – 8:00 GMT
Friday

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

USDCHF clears 0.9127.

EURUSD BULLISH A break through 1.4414 would pave the way for a run towards 1.4512/79 area. Initial support is at 1.4243.

USDJPY BULLISH Break above resistance 85.93 would expose 86.38. Initial support is at 84.51.

GBPUSD BULLISH Pressure on key resistance 1.6401 to hold, break of which would expose 1.6458. Support lies at 1.6257.

USDCHF BEARISH Move below 0.9127 has triggered a bearish tone and exposed 0.9096/38 area. Resistance is at 0.9296.

AUDUSD BULLISH Uptrend is intact; break of 1.0500 has exposed 1.0600/40 resistance zone. Support is at 1.0412.

USDCAD BEARISH Focus is on 0.9513/00 support area. Resistance lies at 0.9642.

EURCHF BULLISH Support at 1.3055 needs to hold to maintain the bullish trend. Resistance is at 1.3243/87 area.

EURGBP BULLISH Break of 0.8820 is required to confirm resumption of bull trend, next resistance is at 0.8853. Support is at 0.8714.

EURJPY BULLISH While support at 120.69 holds, look for gains towards 123.32 and 125.00 next.


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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