15th of July 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
15 July 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

GBPUSD 1.6254 resistance

EURUSD BEARISH Initial resistance is at 1.4295, while this remains intact; watch for a break below 1.3951 to open the way towards 1.3837.

USDJPY BEARISH Support lies at 78.44 Fibonacci level; a break here would open 76.25 key low. Resistance is at 80.38.

GBPUSD NEUTRAL Key resistance lies at 1.6254, while support lies at 1.5906.

USDCHF BEARISH Scope for weakness towards 0.8016 and 0.7836. Resistance is at 0.8276, a previous low.

AUDUSD BULLISH Break of 1.0802 is needed to reinforce the bullish conditions and target 1.0889 next. Initial support lies at 1.0580.

USDCAD BEARISH Decline through 0.9549 would pave the way for losses towards 0.9513, a key low. Near-term resistance is at 0.9669.

EURCHF BEARISH Focus is on 1.1495, a move below which would expose 1.1458. Resistance is at 1.1752.

EURGBP BEARISH Violation of 0.8760 has signalled potential for further downside towards 0.8749 ahead of 0.8722. Initial resistance is at 0.8877.

EURJPY BEARISH While resistance at 112.95 holds, expect losses towards 109.58 ahead of 107.99.


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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