17th of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
17 August 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

GBPUSD 1.6478 resistance

EURUSD BULLISH A clearance of 1.4536 would open the way for gains towards 1.4697. Support lies at 1.4150.

USDJPY BEARISH A break below 76.25, the key low, would open the psychological level of 75.00. Resistance is at 77.86.

GBPUSD BULLISH The pair is testing 1.6478; a move above this level would expose 1.6547. Initial support lies at 1.6256.

USDCHF NEUTRAL The near-term directional triggers are at 0.8278 and 0.7549.

AUDUSD BEARISH A move below 1.0331 would pave the way for losses towards 1.0246. The key upside trigger is at 1.0641, a Fibonacci level.

USDCAD BULLISH A rise through 0.9919 would expose 0.9969. Near-term support lies at 0.9742.

EURCHF NEUTRAL Initial resistance is at 1.1663 while support lies at 1.1046.

EURGBP NEUTRAL A push above 0.8886 would trigger a bull trend while a move below 0.8643 would trigger a bear trend.

EURJPY BEARISH The cross has support at 108.93; a break below this level 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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