5th of January 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
5 January 2012 – 8:00 GMT
Thursday

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

EURUSD BEARISH Focus is on 1.2858; a decline through which would signal scope for deeper pull back towards 1.2588. Resistance is at 1.3077.

USDJPY BEARISH Support lies at 76.33, a move below this level would open key low of 75.35. Near-term resistance is at 77.17.

GBPUSD BEARISH Initial support is at 1.5502, a break of which would open 1.5469. Resistance is at 1.5692.

USDCHF BULLISH Pressure is on 0.9470, a clearance of which would expose the key high of 0.9548. Key support lies at 0.9244.

AUDUSD BULLISH Resistance is at 1.0387, a move above this level would open 1.0447 next. Support is at 1.0233.

USDCAD BEARISH Key support lies at 1.0052, a break below which would open 0.9975. Resistance is at 1.0220.

EURCHF NEUTRAL Initial support lies at 1.2126 ahead of 1.2051. Resistance is at 1.2254 ahead of 1.2398.

EURGBP BEARISH The cross is testing 0.8285, a close below this level would open the way for 0.8252 and 0.8202 next. Resistance is at 0.8372.

EURJPY BEARISH Focus is on key low at 98.66, a decline through which would open 97.65. Resistance is at 100.31.


SCHEDULE

Please visit our Economic Calendar for a for a schedule of market news and events: http://www.fibosignals.com/5585/calendar.html.

A. White
Analyst at Fibosignals.com

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