6th of January 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
6 January 2012 – 8:00 GMT
Friday

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

EURUSD BEARISH Support lies at 1.2642, today's intersection of the bottom of the trend channel drawn off Nov. 14 high, ahead of key low at 1.2588. Resistance is at 1.2947.

USDJPY BEARISH Near-term support lies at 76.61, a break here would expose 76.33. Resistance is at 77.50.

GBPUSD BEARISH Initial support is at 1.5402, a break here would open the key low of 1.5362. Resistance is at 1.5629.

USDCHF BULLISH Pressure is on the key high of 0.9548, a clearance of which would open the way towards 0.9784 with interim resistance at 0.9602. Support lies at 0.9413.

AUDUSD BULLISH Resistance is at 1.0387, a move above this level would open 1.0447 next. Support is at 1.0127.

USDCAD BEARISH Support lies at 1.0104 ahead of the key support at 1.0052. Resistance is at 1.0269.

EURCHF NEUTRAL Initial resistance is at 1.2254 ahead of 1.2398. Support lies at 1.2126 ahead of 1.2051.

EURGBP BEARISH Focus is on 0.8202, a decline through this level would open the way for 0.8142, the August 2010 low. Resistance is at 0.8289.

EURJPY BEARISH The cross is testing 98.66, a clear break below 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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