5th of July 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
5 July 2011 – 8:00 GMT
Tuesday

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

EURCHF 1.2405 next resistance.

EURUSD BULLISH A move above 1.4578 would expose 1.4653 and 1.4697, the key high from June 7. Support lies at 1.4427.

USDJPY BULLISH Clearance of 81.27 would open up the way towards 81.77 and 82.21. Support comes in at 80.27.

GBPUSD BEARISH Focus is on support at 1.5970, a move below which would expose 1.5911. Initial resistance is at 1.6141.

USDCHF NEUTRAL Targets 0.8551 key resistance; a break here would open 0.8663. Near-term support lies at 0.8400.

AUDUSD BULLISH Recovery stalled in front of 1.0790; clearance of the level would signal scope for further gains towards 1.0889. Initial support lies at 1.0520.

USDCAD BEARISH Break below 0.9580 would expose key support at 0.9513. Resistance is at 0.9651.

EURCHF BULLISH Next hurdle for the bulls is at 1.2405, the Dec 30 low. A break here would open 1.2500. Support lies at 1.2186.

EURGBP BULLISH Initial resistance is at 0.9098 ahead of 0.9095 Fibonacci level. A move above these levels would expose 0.9150 key high. Support is at 0.8976 previous high.

EURJPY BULLISH Rise through key high at 117.90 would open 118.38, while support holds at 115.91.


SCHEDULE

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A. White
Analyst at Fibosignals.com

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