DAILY MARKET COMMENTARY
9 May 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
EURCHF 1.2433/03 support.
EURUSD NEUTRAL Break through 1.4457 and 1.4343 has exposed 1.4158/48 support area; need a break below this to trigger bear trend. Initial resistance is at 1.4500.
USDJPY BEARISH Initial support is at 80.00, break of this would expose 79.57 and 78.83 next. Resistance is at 81.28.
GBPUSD NEUTRAL Move below 1.6342 would expose 1.6246 Fibonacci level. Resistance lies at 1.6464
USDCHF BEARISH Support is at 0.8554/00 area, break of which would expose 0.8416. Initial resistance is at 0.8893.
AUDUSD NEUTRAL Rise above 1.0878 would signal resumption of the bull trend and expose 1.0953. Support lies at 1.0579.
USDCAD NEUTRAL Initial resistance is at 0.9722, while support lies at 0.9569.
EURCHF BEARISH Violation of 1.2624 and 1.2571 has opened up the way towards 1.2433/03. Resistance is at 1.2749.
EURGBP NEUTRAL Decline through 0.8800 and 0.8780 has exposed 0.8714/00. Initial resistance is at 0.8800.
EURJPY BEARISH Pressure on 115.00; break below this would expose 114.16 and 113.56.
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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