16th of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
16 August 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

EURUSD 1.4536 resistance.

EURUSD BULLISH A rise through 1.4536 would confirm the bull trend and expose 1.4697. Support lies at 1.4150.

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

GBPUSD BULLISH A clearance of 1.6478 would expose 1.6547. Initial support lies at 1.6167.

USDCHF NEUTRAL Recovery stalled at 0.8000; Initial resistance is at 0.7998 while support lies at 0.7549.

AUDUSD BEARISH A move below 1.0331 would open 1.0246 next. Resistance is at 1.0641, a Fibonacci level.

USDCAD BULLISH A push above 0.9919 would open the way for 0.9969. Support lies at 0.9742.

EURCHF NEUTRAL The pair has resistance at 1.1536 while support lies at 1.0686.

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

EURJPY BEARISH Initial support is at 108.93, a break below which would open 108.03, a key low from Aug 11. Resistance is at 112.71.


A. White
Analyst at Fibosignals.com

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