DAILY MARKET COMMENTARY
8 June 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
USDJPY 79.57 support.
EURUSD BULLISH The pair eyes 1.4711; break of this would open 1.4900. Initial support lies at 1.4557.
USDJPY BEARISH Break of 80.00 has shifted focus to 79.57, the key low from May 5. Resistance is at 81.01.
GBPUSD BULLISH Rise above 1.6496 would expose 1.6547. Near-term support lies at 1.6286.
USDCHF BEARISH The pair has scope for further weakness towards 0.8300, break below this would expose 0.8165. Resistance lies at 0.8453.
AUDUSD BULLISH Initial resistance is at 1.0775 ahead of 1.0877. Support lies at 1.0587.
USDCAD BULLISH Recovery through 0.9817 would expose 0.9852, while support comes in at 0.9697.
EURCHF BEARISH Focus is on the downside with initial support at 1.2161 ahead of the key low at 1.2054. Near-term resistance is at 1.2318.
EURGBP BULLISH Move above 0.8946 would pave the way for further gains towards 0.9000 and 0.9043. Support is at 0.8846.
EURJPY BULLISH A break above the 118.38/52 resistance zone would expose 119.54. Near-term support lies at 116.59.
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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