16th of June 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
16 June 2011 – 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

EURJPY 113.88 support

EURUSD BEARISH Sharp decline through 1.4248/1.4125 has turned the model bearish and exposed support at 1.4068 ahead of 1.4000. Resistance lies at 1.4300.

USDJPY NEUTRAL Move above 81.01 has exposed resistance at 81.26 ahead of 81.63. Support lies at 80.38.

GBPUSD BEARISH The pair pulled back through 1.6173 to put focus on 1.6132 ahead of 1.6058. Initial resistance is at 1.6383.

USDCHF NEUTRAL Break above 0.8547 has opened up 0.8639, while support lies at 0.8443.

AUDUSD BEARISH While resistance at 1.0726 holds, focus on support at 1.0510; break here would signal further losses towards 1.0441.

USDCAD BULLISH Sharp rise through 0.9772 has paved the way for gains towards 0.9829 and key level at 0.9852. Initial support lies at 0.9671.

EURCHF BEARISH Move below 1.2000 would open 1.1811. Initial resistance lies at 1.2126.

EURGBP NEUTRAL Support lies at 0.8697, while resistance at 0.8825 holds.

EURJPY BEARISH Momentum is negative; breach of 114.86/48 has signaled scope for weakness towards 113.88 and 113.42. Resistance lies at 116.47.


SCHEDULE

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

A. White
Analyst at Fibosignals.com

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