12th of September 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
12 September 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

EURJPY breaks 105.44.

EURUSD BEARISH Sharp sell-off through 1.3525 has opened 1.3428 ahead of 1.3245. Initial resistance is at 1.3678.

USDJPY BULLISH Clearance of 78.10 would expose 78.60. Near-term support is at 76.69.

GBPUSD BEARISH Focus is on the key low from July 12 at 1.5781. A break of this level would expose 1.5719. Resistance is at 1.5991.

USDCHF BULLISH Key resistance is at 0.8951, a move above this level would open the way for 0.9012. Support lies at 0.8706.

AUDUSD BEARISH Break below 1.0315 would confirm the bear trend and expose 1.0246 next. Resistance is at 1.0478.

USDCAD BULLISH Rise through 1.0010, the key high, would pave the way towards 1.0058. Support lies at 0.9869.

EURCHF NEUTRAL Key resistance is at 1.2346 and support lies at 1.2036.

EURGBP BEARISH Pressure is on trend line support drawn off June 2010 low at 0.8559. A break here would expose 0.8534 ahead of 0.8479. Resistance is at 0.8612.

EURJPY BEARISH Fall through 105.44 has opened the way for further losses towards 100.00. Initial resistance is at 106.05.


A. White
Analyst at Fibosignals.com

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