22nd of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
22 August 2011 – 8:00 GMT
Monday

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

USDJPY defines new low at 75.95.

EURUSD BULLISH A move above 1.4536 would open the way for gains towards 1.4697. Support lies at 1.4226.

USDJPY BEARISH The pair defined a new low at 75.95, a move below which would expose the psychological level at 75.00. Initial resistance is at 77.31.

GBPUSD BULLISH The pair clears 1.6592; Initial resistance is at 1.6618 ahead of 1.6661. Support lies at 1.6421.

USDCHF NEUTRAL Initial resistance is at 0.8017 and support lies at 0.7744 ahead of 0.7549.

AUDUSD BEARISH A fall through 1.0315 would expose 1.0246. Initial resistance is at 1.0559.

USDCAD BULLISH A clearance of 0.9939 would open the way for 0.9969. Near-term support lies at 0.9799.

EURCHF NEUTRAL The cross has key resistance at 1.1555 and support lies at 1.1046.

EURGBP BEARISH Key support lies at 0.8643, a break here would expose 0.8611. Initial resistance is at 0.8797, a Fibonacci level.

EURJPY BEARISH A break below 108.93 would expose 108.03, the key low from Aug 11. Initial resistance is at 111.25.


A. White
Analyst at Fibosignals.com

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