Friday, July 29, 2011

29th of July 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
29 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 1.1374 key support.

EURUSD BULLISH A move above 1.4401 would reinforce the bull trend; next resistance comes in at 1.4536. Initial support is at 1.4187, Fibonacci level.

USDJPY BEARISH Pressure on initial support at 77.39, a move below which would expose 76.25, the key low. Resistance is at 78.17.

GBPUSD BULLISH Clearance of 1.6442 would open 1.6496. Support lies at 1.6262.

USDCHF BEARISH Support lies at 0.7927, a push below which would expose 0.7705, a channel lower drawn off Feb 11 high. Resistance is at 0.8178.

AUDUSD BULLISH Initial resistance is at 1.1081, a break of which would open the way towards 1.1198. Initial support lies at 1.0796.

USDCAD BEARISH A push through 0.9458 would expose 0.9407. Near-term resistance is at 0.9531.

EURCHF BEARISH Key support is at 1.1374, a fall below this would signal weakness towards 1.1288. Near-term resistance is at 1.1663.

EURGBP BEARISH Move below 0.8705 would open the way for further losses towards 0.8657. Resistance is at 0.8806.

EURJPY BEARISH Violation of 110.66 would expose support at 109.58, a key low. Initial resistance is at 112.10.


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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