29th of June 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
29 June 2011 – 8:00 GMT
Wednesday

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

USDJPY 81.33 Resistance

EURUSD NEUTRAL The move above 1.4358 has turned the model to neutral and exposed resistance at 1.4442. Initial support is at 1.4237.

USDJPY BULLISH The break above 81.06 has paved the way for gains towards 81.33 ahead of 81.77. Initial support lies at 80.66.

GBPUSD BEARISH Initial support is at 1.5911; potential for further weakness towards 1.5881. Resistance is at 1.6075.

USDCHF BEARISH Momentum is negative; focus on support at 0.8165, while resistance holds at 0.8439.

AUDUSD BEARISH Focus is on initial support at 1.0436, a move below which would open 1.0390. Resistance is at 1.0601.

USDCAD BULLISH A break above 0.9885 would open up 0.9913, the key level. Initial support is at 0.9771.

EURCHF BEARISH Watch support at 1.1806, breach of which would signal further losses towards 1.1721 and 1.1684. Initial resistance lies at 1.2000.

EURGBP BULLISH Clearance of 0.8976 has put focus on 0.9000 ahead of 0.9043. Support lies at 0.8928.

EURJPY NEUTRAL The recovery through 116.47 has opened up resistance at 116.87 ahead of 117.47. Initial support lies at 115.13.


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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