9th of June 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
9 June 2011 – 8:00 GMT
Thursday

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

EURUSD BULLISH The pair is stalled ahead of 1.4711; a break here would open 1.4900. Initial support lies at 1.4500.

USDJPY BEARISH Focus on the key support at 79.57 where a break would open 78.83. Resistance is at 80.40.

GBPUSD BULLISH Recovery through 1.6473 would expose 1.6496 and 1.6547 next. Near-term support lies at 1.6286.

USDCHF BEARISH Downside pressure is held above 0.8300, break below this would leave little support till 0.8165. Resistance lies at 0.8453.

AUDUSD NEUTRAL Near-term directional parameters defined at 1.0775 and 1.0441.

USDCAD BULLISH Violation of 0.9852 would expose 0.9910, 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 Momentum is positive; a break above 0.8976 would expose 0.9000. Support lies at 0.8884.

EURJPY BULLISH Break of 117.90 would open 118.38/52 resistance zone. Near-term support lies at 115.77.


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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