Tuesday, December 20, 2011

20th of December 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
20 December 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

EURUSD BEARISH Pair is consolidating above 1.2946; a move below this would open 1.2867, the Jan. 10 key low. Resistance is at 1.3146.

USDJPY NEUTRAL Pair is trading sideways with directional triggers at 78.29 and 77.49.

GBPUSD BEARISH Initial support lies at 1.5465 ahead of key low at 1.5409. Resistance is at 1.5630.

USDCHF BULLISH Tough support lies at 0.9331; as long as this level holds, watch out for a break above 0.9548 to expose 0.9602.

AUDUSD BEARISH Key support lies at 0.9861; a break below this would expose 0.9833. Resistance is at 1.0045.

USDCAD BULLISH Key resistance is at 1.0424, a violation of which would open 1.0474. Support is at 1.0298.

EURCHF BEARISH Momentum is negative; two key supports to watch are at 1.2123 and 1.2012. Resistance is at 1.2254.

EURGBP BEARISH Key support area is at 0.8373/56; a break below this would expose 0.8332 next. Resistance is at 0.8426.

EURJPY BEARISH The cross is consolidating above 100.76; a break below this would open the psychological level of 100.00. Resistance is at 102.49.


A. White
Analyst at Fibosignals.com

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