14th of March 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
14 March 2012 – 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 The pair targets 1.2974, the key low from the Feb. 16, a break below which would signal scope for deeper pull back towards 1.2828. Resistance is at 1.3191.

USDJPY BULLISH Next resistance is at 83.74 where a break would open the way towards 85.53, the April 2011 high. Support lies at 82.87.

GBPUSD BEARISH Decline through 1.5603 would pave the way for 1.5525. Resistance is at 1.5748.

USDCHF BULLISH The pair tests the resistance at 0.9263 a clearance of which would expose the February failure high at 0.9300. Support lies at 0.9140.

AUDUSD BEARISH Next supports are at 1.0474 and 1.0428. Resistance is at 1.0577.

USDCAD BEARISH Support lies at 0.9873 ahead of 0.9842, the year-to-date low. Resistance is at 0.9951.

EURCHF NEUTRAL Yesterday's rally now targets 1.2114 ahead of 1.2133. Support is at 1.2047.

EURGBP NEUTRAL Our focus is on the key support at 0.8314, the March low. A break below this would open 0.8265. Resistance is at 0.8424.

EURJPY BULLISH The cross tests 108.74, a closing break above this would open 109.93, the year-to-date high. Support is at 107.52.


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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