20th of June 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
20 June 2011 – 8:00 GMT
Monday

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

EURGBP 0.8879 resistance.

EURUSD BEARISH Focus on initial support at 1.4128, break below this level would expose 1.4074. Initial resistance lies at 1.4339.

USDJPY BEARISH Pressure on key support at 80.00, move below this level would confirm the bearish conditions and open 79.57 next. Initial resistance is at 80.68.

GBPUSD BEARISH Support is at 1.6079/58 area, scope for further weakness towards 1.6000. Resistance at 1.6226 holds.

USDCHF NEUTRAL Move below 0.8443 would expose 0.8348, while resistance at 0.8565 remains intact.

AUDUSD BEARISH The pair targets initial support at 1.0478, break of this level would expose 1.0441. Resistance lies at 1.0662.

USDCAD BULLISH While support at 0.9773 remains intact, focus on resistance at 0.9869 ahead of 0.9899.

EURCHF BEARISH Break of initial support at 1.1985 would signal further weakness towards 1.1947. Initial resistance lies at 1.2255.

EURGBP NEUTRAL Move above resistance at 0.8879 would trigger the way for gains to 0.8919, while support lies at 0.8771.

EURJPY BEARISH Key support lies at 113.42, break of this level would pave the way to 113.00. Resistance lies at 114.97.


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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