20th of March 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
20 March 2012 – 8:00 GMT
Tuesday

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

EURUSD BEARISH As long as resistance at 1.3302 is intact, our focus remains on the downside. Support lies at 1.3135 ahead of 1.3004.

USDJPY BULLISH Underlying trend is bullish; a recovery through 84.18 would open up the way towards 85.28. Key near-term support is at 82.81.

GBPUSD NEUTRAL The key upside trigger is at 1.5993, where a break would open 1.6096. Support is at 1.5759.

USDCHF NEUTRAL Key support to watch is at 0.9085. As long as this holds, we look for an upside to 0.9214 initially. If this gives way, scope would be for weakness to 0.8931.

AUDUSD BEARISH While resistance at 1.0640 holds, we anticipate a decline to 1.0423 just ahead of 1.0401.

USDCAD BEARISH Clearance of 0.9873 has opened support at 0.9842, the year-to-date low, ahead of 0.9766, the Sept 19 low. Resistance is at 0.9949.

EURCHF NEUTRAL Resistance is at 1.2147 ahead of 1.2189. Support is at 1.2040.

EURGBP BEARISH Support is at 0.8265 ahead of 0.8222. Resistance is at 0.8351.

EURJPY BULLISH Yesterday's rally through 110.18 has exposed 111.60. Support is at 108.69.


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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