2nd of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
2 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

USDJPY 76.25 key support.

EURUSD NEUTRAL A break above 1.4454 would trigger resumption of the bull trend and open 1.4536/78 resistance area. Support lies at 1.4134.

USDJPY BEARISH The pair has key support at 76.25, a move below this would expose 75.00, psychological level. Initial resistance is at 78.17.

GBPUSD BULLISH A rise through 1.6476 would open 1.6547, a key high. Support lies at 1.6211.

USDCHF BEARISH Support lies at 0.7681, the channel lower drawn off the Feb 11 high, ahead of 0.7541. Resistance is at 0.8070.

AUDUSD BULLISH Clearance of 1.1081 would expose 1.1198. Initial support lies at 1.0911.

USDCAD NEUTRAL Resistance is at 0.9636 while support lies at 0.9486.

EURCHF BEARISH A break of 1.1000 would favour extension of losses towards 1.0920/09 area. Resistance is at 1.1452.

EURGBP BEARISH A decline through 0.8705 would pave the way for losses towards 0.8657. Resistance is at 0.8806.

EURJPY BEARISH Initial support lies at 108.71 ahead of 106.61, the key low from March 17. Resistance is at 112.25.


A. White
Analyst at Fibosignals.com

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