25th of May 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
25 May 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

USDCHF heavy below 0.8951.

EURUSD BEARISH Break of 1.3970 would shift focus to 1.3903. Resistance is at 1.4147 ahead of 1.4202.

USDJPY BULLISH Scope for gains towards 82.23 and 82.55, a break above these levels would confirm the bull trend; near-term support is at 81.32.

GBPUSD BEARISH Move below 1.6046 would signal further weakness towards 1.6000 and 1.5937. Near-term resistance is at 1.6239.

USDCHF BEARISH Remains heavy below 0.8951; initial support is at 0.8748 ahead of 0.8706.

AUDUSD BEARISH Move below initial support at 1.0443 would expose 1.0390. Near-term resistance is at 1.0657.

USDCAD BULLISH Momentum is positive; expect the pair to target 0.9828/49 resistance area. Initial support is at 0.9724.

EURGBP BEARISH Focus is on 0.8655; a break here would open 0.8618. Initial resistance is at 0.8752.

EURJPY BEARISH Initial support is at 113.88, move below this would signal scope for further downside towards 113.42/00 area. Resistance is at 116.18.


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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