3rd of August 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
3 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

EURCHF breaks 1.0920.

EURUSD BEARISH Next support lies at 1.4014 ahead of 1.3837, the July 12 low. Resistance is at 1.4454.

USDJPY BEARISH Focus on initial support at 76.25, the key low, a move below which would expose 75.00. Near-term resistance is at 78.17.

GBPUSD BULLISH Clearance of 1.6476 would open the way for 1.6547, a key high. Support lies at 1.6186.

USDCHF BEARISH Watch for a move below 0.7500 to open the way towards 0.7374. Resistance is at 0.7857.

AUDUSD NEUTRAL Near-term directional triggers are at 1.0526 and 1.1081.

USDCAD NEUTRAL A move above 0.9669 would signal scope for gains towards 0.9779, while support lies at 0.9486.

EURCHF BEARISH A break below 1.0500 would extend losses towards 1.0311. Resistance is at 1.1205.

EURGBP BEARISH Support lies at 0.8657, a break of this level would open 0.8611, a key low. Near-term resistance is at 0.8806.

EURJPY BEARISH Initial support is at 108.71 ahead of 106.61, the key low from March 17. Resistance is at 112.25.


A. White
Analyst at Fibosignals.com

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