28th of June 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
28 June 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

EURGBP clears 0.8952

EURUSD BEARISH Initial support is at 1.4103, a move below which would expose 1.4074, the key level. Resistance is at 1.4358.

USDJPY NEUTRAL A move above 81.06 would develop positive momentum and open the way to 81.33. Initial support lies at 80.29.

GBPUSD BEARISH While resistance at 1.6075 holds, there is potential for weakness towards 1.5914 and 1.5881.

USDCHF BEARISH Scope for further downside towards 0.8300 ahead of 0.8165. Resistance lies at 0.8463.

AUDUSD BEARISH Initial support lies at 1.0390, a decline through which would expose 1.0359. Resistance is at 1.0601.

USDCAD BULLISH A break above 0.9913 would open the way to 0.9953/74 area. Initial support is at 0.9771.

EURCHF BEARISH A move below 1.1806 would signal further losses towards 1.1721 and 1.1684. Initial resistance lies at 1.2000.

EURGBP BULLISH Momentum is positive; break of 0.8952 has paved the way for a climb to 0.8976 ahead of 0.9000. Support lies at 0.8848.

EURJPY BEARISH Initial support is at 113.78, break below which would open 113.42; a recovery through 115.83 is required to offset the losses and expose 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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