11th of January 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
11 January 2011 – 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

AUDUSD clears 0.9863/31.

EURUSD BEARISH Focus is on 1.2830/1.2796 support area. Resistance is at 1.3021.

USDJPY NEUTRAL Break above 83.67 would open up the way towards 84.51 mid-December high; support at 82.63.

GBPUSD NEUTRAL Upside potential holds below 1.5627, the key trend line resistance drawn off Nov. 5 high; 1.5475 marks the near term support.

USDCHF NEUTRAL Focus on the tough 0.9774 Fibonacci resistance. Support lies at 0.9605.

AUDUSD BEARISH Breach of 0.9863/31 support zone favours triggers negative tone; pressures 0.9812 next. Resistance at 0.9956 intraday high.

USDCAD BEARISH Outlook is bearish with focus on 0.9889/25 support area. Resistance is at 1.0004.

EURCHF BEARISH Focus is on 1.2402 key low, initial resistance at 1.2726.

EURGBP BEARISH Found support at 0.8285 ahead of 0.8252; resistance at 0.8339.

EURJPY BEARISH Next big support lies at 105.97 key low, resistance at 108.55.

SCHEDULE

Please visit Fibosignals.com’s Economic Calendar for a schedule of market news and events.

A. M. Negrin Bautista, CFA

Chief Analyst at Fibosignals.com

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