20th of July 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
20 July 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

EURCHF 1.1752 resistance.

EURUSD BEARISH Focus on initial support at 1.4069, a break which would expose 1.4014 ahead of 1.3951. Resistance holds at 1.4295.

USDJPY BEARISH Decline through 78.82 would extend weakness towards 78.44 ahead of 76.25, a key low. Resistance is at 79.61.

GBPUSD NEUTRAL Key upside trigger is at 1.6194, a break above which would develop bullish conditions. Initial support lies at 1.6006.

USDCHF BEARISH As long as resistance at 0.8398 holds, bearish trend remains intact. Look for a break below 0.8152 to expose 0.8033.

AUDUSD BULLISH Break above 1.0802 is required to confirm the bull trend and target 1.0889 next. Support lies at 1.0598.

USDCAD BEARISH Sharp sell-off through 0.9513 has paved the way for losses towards 0.9446 ahead of 0.9400. Resistance is at 0.9602.

EURCHF BEARISH Initial support is at 1.1515, a move below which would reinforce the bearish conditions and expose 1.1374. Resistance is at 1.1752.

EURGBP BEARISH Support lies at 0.8705, a break of which would expose 0.8657. Resistance is at 0.8847.

EURJPY BEARISH Violation of 111.18 would signal further downside move towards 110.66 ahead of 109.58. Resistance is at 112.95.


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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