8th of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
8 August 2011 – 8:00 GMT
Monday

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

AUDUSD breaks 1.0391.

EURUSD BEARISH Initial support is at 1.4055, a break here would expose 1.4014 and 1.3951. Resistance is at 1.4536.

USDJPY NEUTRAL Resistance is at 79.41 while support lies at 76.97.

GBPUSD BULLISH Clearance of 1.6440 and has opened the way for 1.6496 ahead of key high at 1.6547. Near-term support lies at 1.6224.

USDCHF BEARISH Clear break of 0.7500 would extend losses towards 0.7439, Fibonacci level. Resistance is at 0.7802.

AUDUSD BEARISH Break of 1.0391 has opened the way towards 1.0187 and 1.0113. Resistance is at 1.0527.

USDCAD BULLISH Key resistance is at 0.9913, a move above which would pave the way for 0.9974. Support lies at 0.9742.

EURCHF BEARISH Support lies at 1.0500, a push below would open the way towards 1.0319. Resistance is at 1.1205.

EURGBP BEARISH Initial support is at 0.8643, a break below which would expose 0.8611. Near-term resistance is at 0.8792, Fibonacci level.

EURJPY BEARISH Move below 110.30 would expose key support at 108.71. Resistance is at 114.18.


A. White
Analyst at Fibosignals.com

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