7th of December 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
7 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

USDCHF 0.9331 resistance

EURUSD BEARISH Support lies at 1.3428, a break below which would open 1.3259. Resistance is at 1.3548.

USDJPY BULLISH Resistance is at 78.11 ahead of 78.29. Key support lies at 77.30.

GBPUSD BEARISH Support lies at 1.5561, a decline through which would open 1.5526. Resistance is at 1.5726.

USDCHF BULLISH The pair approaches the key resistance of 0.9331; a break above which would open 0.9401 next. Support lies at 0.9112.

AUDUSD BULLISH Rally through 1.0328 would open 1.0447. Support lies at 1.0151.

USDCAD BEARISH Pressure is on 1.0079, a clear break below which would expose 1.0041 and then 0.9975. Resistance is at 1.0223.

EURCHF BULLISH The cross is consolidating below 1.2474; a break above which would be a key bullish event and open 1.2646. Support lies at 1.2226.

EURGBP NEUTRAL The near-term directional triggers are at 0.8620 and 0.8519.

EURJPY NEUTRAL Support lies at 103.34 ahead of 102.49 while resistance is at 105.00 and then 105.70.


A. White
Analyst at Fibosignals.com

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