22nd of March 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
22 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 As long as the resistance at 1.3302 holds, our bias would be for a downside. Support lies at 1.3145 ahead of 1.3004.

USDJPY BULLISH A push above 84.18 would signal a bullish resumption and open up the way towards 85.28. Key near-term support is at 83.02.

GBPUSD NEUTRAL Resistance is at 1.5923 ahead of the upside trigger at 1.5993 whereas support lies at 1.5801 ahead of 1.5763.

USDCHF NEUTRAL Our focus is on support at 0.9072 where a break would suggest weakness to 0.8931. Resistance is at 0.9178.

AUDUSD BEARISH The pair trades heavy intraday and cleared the key support at 1.0401. A close below this tonight would expose 1.0359. Resistance is at 1.0560.

USDCAD BEARISH As long as 1.0052, the February failure high is intact, we look for a break below 0.9842 to trigger extension of weakness. Interim resistance is at 0.9969.

EURCHF NEUTRAL Resistance is at 1.2082 ahead of 1.2147. Support is at 1.2040.

EURGBP NEUTRAL Support is at 0.8265 whereas resistance is at 0.8372 ahead of 0.8424.

EURJPY BULLISH A push through 111.60 would expose 113.29. Support is at 109.23.


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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