11th of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
11 August 2011 – 8:00 GMT
Thursday

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

USDJPY 76.25 support.

EURUSD BEARISH Failure to break 1.4536 has brought back focus on the downside; support lies at 1.4055/14 area ahead of 1.3837, a key low. Resistance is at 1.4454.

USDJPY BEARISH The focus is on 76.25, a break of which would expose the psychological level of 75.00. Resistance is at 77.86.

GBPUSD NEUTRAL The pair has resistance at 1.6336 while support lies at 1.6047, a key retracement level.

USDCHF BEARISH A break of 0.7071 would expose 0.7000, psychological level. Resistance is at 0.7593.

AUDUSD BEARISH The pair has support at 0.9928, a move below which would open the way for 0.9781. Initial resistance is at 1.0447.

USDCAD BULLISH A clearance of 1.0010 would expose 1.0058. Near-term support lies at 0.9742.

EURCHF BEARISH A move below 1.0075 would expose 1.0000, an important psychological level. Resistance is at 1.0843.

EURGBP NEUTRAL Near-term directional triggers are at 0.8886 and 0.8643.

EURJPY BEARISH Key support lies at 106.61, a break here would expose 105.80. Resistance is at 111.25.


A. White
Analyst at Fibosignals.com

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