21st of October 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
21 October 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

EURUSD BULLISH Resistance is at 1.3914/37 area, a break above which would signal scope for gains towards 1.4013. Key support lies at 1.3566.

USDJPY NEUTRAL Resistance is at 77.49, while support lies at 76.31.

GBPUSD BULLISH Focus is on resistance at 1.5853, a break here would expose 1.5945. Support lies at 1.5632.

USDCHF NEUTRAL Break below 0.8881 would be a key bearish development and open up 0.8786. Resistance is at 0.9083 ahead of 0.9123.

AUDUSD BULLISH Bullish conditions remain intact; while support at 1.0102 holds, expect a move towards resistance at 1.0399 and then 1.0434.

USDCAD NEUTRAL Resistance is at 1.0273 and 1.0339. Support lies at 1.0085 ahead of 1.0044.

EURCHF BULLISH Break above 1.2495 would signal scope for extension of gains towards 1.2646. Support lies at 1.2218 ahead of 1.2123.

EURGBP BULLISH Initial resistance is at 0.8797, a clearance of which would expose 0.8842. Support lies at 0.8688.

EURJPY BULLISH Rise through 106.54 would open the way for gains towards 107.68. Key support lies at 104.02.


A. White
Analyst at Fibosignals.com

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