24th of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
24 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

USDCHF 0.8017 resistance.

EURUSD BULLISH A break above 1.4500 would open the way for 1.4578 ahead of the key high at 1.4697. Support lies at 1.4259.

USDJPY BEARISH A fall through 75.95 would expose the psychological 75.00 level. Initial resistance is at 77.31.

GBPUSD BULLISH A rise through 1.6573 would pave the way for gains towards 1.6618 and 1.6661. Near-term support lies at 1.6421.

USDCHF NEUTRAL The key upside trigger is at 0.8017 and support lies at 0.7744.

AUDUSD NEUTRAL The near-term directional triggers are at 1.0602 and 1.0315.

USDCAD BULLISH A clearance of 0.9939 would expose 0.9969. Near-term support lies at 0.9826.

EURCHF BULLISH A move above 1.1555 would confirm the bull trend and expose 1.1663. Support lies at 1.1165.

EURGBP BEARISH A decline through 0.8697 would open the way towards 0.8643, a key low from Aug 5. Resistance is at 0.8797, a key Fibonacci level.

EURJPY NEUTRAL The cross has resistance at 111.25 ahead of 111.83 while support lies at 109.02.


A. White
Analyst at Fibosignals.com

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