Tuesday, August 23, 2011

23rd of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
23 August 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

EURGBP 0.8643 support.

EURUSD BULLISH A rise through 1.4536 would open the way for gains towards 1.4697, a key high. Near-term support lies at 1.4226.

USDJPY BEARISH A move below 75.95, the key low, would expose the psychological 75.00 level. Near-term resistance is at 77.31.

GBPUSD BULLISH A break above 1.6618 would pave the way for 1.6661. Support lies at 1.6421.

USDCHF NEUTRAL The pair has resistance at 0.8017 and support at 0.7744.

AUDUSD BEARISH Initial support lies at 1.0315, a break here would expose 1.0246. Resistance is at 1.0559.

USDCAD BULLISH A clearance of 0.9939 would reinforce the bull trend and open the way towards 0.9969. Near-term support lies at 0.9799.

EURCHF NEUTRAL The near-term directional triggers are at 1.1555 and 1.1046.

EURGBP BEARISH Key support lies at 0.8643; a move below this level would expose 0.8611. Resistance is at 0.8797, a Fibonacci level.

EURJPY BEARISH A decline through 109.02 would expose 108.03, the key low from Aug 11. Initial resistance is at 111.25.


A. White
Analyst at Fibosignals.com

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