12th of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
12 August 2011 – 8:00 GMT
Friday

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

GBPUSD 1.6047 support

EURUSD BEARISH While resistance at 1.4401 remains intact, expect a decline towards 1.4055 ahead of 1.3951.

USDJPY BEARISH The focus is on 76.25, a break of which would expose the psychological level of 75.00. Resistance is at 77.86.

GBPUSD NEUTRAL Key downside trigger is at 1.6047, a Fibonacci level. Initial resistance is at 1.6336.

USDCHF BEARISH A break below 0.7181 would reinforce the bear trend and open the way towards the key low at 0.7071. Resistance is at 0.7802.

AUDUSD BEARISH The pair has support at 0.9928, a move below which would expose 0.9781. Initial resistance is at 1.0391.

USDCAD BULLISH The momentum is positive; a move above 1.0010 would signal extension of gains towards 1.0058. Near-term support lies at 0.9767.

EURCHF BEARISH Key support lies at 1.0075, a drop through which would expose 1.0000, a psychological level. Resistance is at 1.1022.

EURGBP NEUTRAL The near-term directional triggers are at 0.8886 and 0.8677.

EURJPY BEARISH The focus is on key low from March 17 at 106.61, a break here would expose 105.80. Resistance is at 111.25.


A. White
Analyst at Fibosignals.com

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