Wednesday, December 14, 2011

14th of December 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
14 December 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

EURUSD BEARISH Break below key supports at 1.3146 and 1.3047 has reinforced the bear trend. Next supports are at 1.2962 and 1.2867. Resistance is at 1.3237.

USDJPY NEUTRAL Key resistance is at 78.11 a break above this would open 78.29; key support lies at 77.49.

GBPUSD BEARISH Yesterday's sharp move broke through 1.5459 to open 1.5423, key low from Nov. 25. Next support is at 1.5272. Initial resistance is at 1.5630.

USDCHF BULLISH Rise through 0.9401 signals extension of gains towards 0.9506, Feb. 22 high. Next resistance is at 0.9602, Feb 17 high. Support lies at 0.9165.

AUDUSD BEARISH Key supports to watch are at 0.9938 and 0.9833. Resistance is at 1.0163.

USDCAD BULLISH Focus is on resistance at 1.0364, a break above which would open 1.0413, the 76.4% retracement of the decline from 1.0524 to 1.0052. Support is at 1.0168.

EURCHF NEUTRAL A clear break above 1.2474 would favour extension of gains towards 1.2646. Key support lies at 1.2226.

EURGBP BEARISH Trend is bearish; next support is at 0.8384 ahead of 0.8356. Resistance is at 0.8555.

EURJPY BEARISH Key support lies at 100.76, the low from Oct. 4. Resistance is at 102.99.


A. White
Analyst at Fibosignals.com

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