1st of July 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
1 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

EURCHF 1.2318 resistance.

EURUSD BULLISH Resistance is at 1.4551, scope for further gains towards 1.4697. Initial support is at 1.4427.

USDJPY NEUTRAL Key support lies at 80.00, decline through which would open 79.57. Near-term resistance is at 81.27.

GBPUSD BEARISH A move below 1.5970 would open the way to 1.5911 and 1.5881. Resistance is at 1.6119.

USDCHF BEARISH Initial support lies at 0.8276, a move below which would leave little support till 0.8165. Resistance is at 0.8517.

AUDUSD BULLISH Focus is on key resistance at 1.0775, a break above this level would open 1.0889. Support lies at 1.0520.

USDCAD BEARISH The pair's sell-off signals weakness towards 0.9600 and 0.9556. Near-term resistance is at 0.9705.

EURCHF NEUTRAL Upside trigger lies at 1.2318, the key level. Support lies at 1.2030.

EURGBP BULLISH Focus is on initial resistance at 0.9095, a push above the level would open way to 0.9150. Support lies at 0.8968.

EURJPY BULLISH While support at 115.91 holds, look for a break above 117.90 to confirm the bullish conditions and open up 118.38.


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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