15th of March 2012 - Technical Forex Market Overview

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

USDJPY BULLISH Recent sharp rally has cleared 83.74 and opened the way towards 85.53, the 2011 high. Interim resistance is at 84.79 and support lies at 83.65.

GBPUSD BEARISH Decline through 1.5603 would pave the way for 1.5525. Resistances are at 1.5748.

USDCHF BULLISH Clearance of 0.9300 has opened 0.9342 ahead of 0.9439. Support lies at 0.9229.

AUDUSD BEARISH Yesterday's sharp fall through 1.0428 has shifted our focus on 1.0359. Next support is at 1.0303 and 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 BULLISH The cross has cleared 1.2133 and resistance is now at 1.2147 and 1.2189. Support is at 1.2100.

EURGBP NEUTRAL The cross continues to test 0.8314, the March low; a clear break below this would open 0.8265. Resistance is at 0.8360.

EURJPY BULLISH Break above 109.93, the year-to-date high, would open 111.60. 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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