23rd of June 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
23 June 2011 – 8:00 GMT
Thursday

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


TECHNICAL DATA

USDCAD 0.9671 key support.

EURUSD BEARISH The pair pulled back through 1.4303 to turn bearish and expose support at 1.4215 ahead of 1.4161. Initial resistance lies at 1.4442.

USDJPY BEARISH Key support is at 80.00, decline through this level would open 79.57 next. Initial resistance is at 81.06.

GBPUSD BEARISH The sharp fall through 1.6079/58 has paved the way for further losses towards 1.5972 and 1.5937. Resistance lies at 1.6200.

USDCHF BEARISH The focus is on support at 0.8340, break of which would open key level at 0.8327. Initial resistance lies at 0.8517.

AUDUSD BEARISH A move below 1.0532 would expose 1.0478, while resistance is at 1.0651.

USDCAD NEUTRAL Support lies at 0.9671; while this level holds there's potential for a climb back to 0.9806.

EURCHF BEARISH Remains heavy below 1.2147, while the level holds focus is on downside. Initial support is at 1.2021 ahead of 1.1950.

EURGBP BULLISH The cross targets 0.8976, scope for 0.9041 next. Near-term support lies at 0.8854.

EURJPY BEARISH The break of initial support at 114.66 would open 113.52/47 area. Resistance lies at 116.00.


SCHEDULE

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

A. White
Analyst at Fibosignals.com

DISCLAIMER: Fibosignals.com’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. Fibosignals.com assumes no responsibility or liability from gains or losses incurred by the information herein contained. Opinions, conclusions and other information expressed in this message are not given or endorsed by Fibosignals.com unless otherwise indicated by an authorized representative.