10th of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
10 August 2011 – 8:00 GMT
Wednesday

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

EURCHF approaches parity.

EURUSD BEARISH A break below 1.4055/14 area would open the way for 1.3951. Near-term resistance is at 1.4536.

USDJPY BEARISH Key support lies at 76.25, a break here would expose the psychological level of 75.00. Resistance is at 77.86.

GBPUSD BULLISH A clearance of 1.6478 would pave the way for gains towards 1.6547. Near-term support lies at 1.6176.

USDCHF BEARISH A move below 0.7071 would expose 0.7000, psychological level. Resistance is at 0.7593.

AUDUSD BEARISH A violation of 0.9928 would open the way for further losses towards 0.9781. Initial resistance is at 1.0505, Fibonacci level.

USDCAD BULLISH Initial resistance is at 1.0010, a break here would expose 1.0058. Support lies at 0.9742.

EURCHF BEARISH A clear break of 1.0500 has extended losses towards 1.0075 and 1.0000, psychological level. Resistance is at 1.0843.

EURGBP BEARISH Support lies at 0.8677, a move below which would expose 0.8643. A move above 0.8884 would trigger a bull trend.

EURJPY BEARISH The cross now heads towards 108.71, a key low from Aug 1, and 106.61. Resistance is at 112.71.


A. White
Analyst at Fibosignals.com

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