7th of October 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
7 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 BEARISH Near-term support lies at 1.3242, a break here would open 1.3146. Resistance is at 1.3601.

USDJPY NEUTRAL Resistance is at 77.58, top of the bear channel drawn off April 7 high ahead of 77.86. Key support lies at 75.95.

GBPUSD BEARISH Sell-off through 1.5328 has exposed support at 1.5192, a Fibonacci level ahead of 1.5125. Resistance is at 1.5597.

USDCHF BULLISH Resistance is at 0.9340 ahead of 0.9401. Near-term support lies at 0.9078.

AUDUSD BEARISH Focus on support at 0.9488, a break of which would expose 0.9388. Resistance is at 0.9810 ahead of 0.9986.

USDCAD BULLISH The pullback from 1.0658 is viewed as a correction. Near-term resistance is at 1.0572. Support lies at 1.0340 ahead of 1.0265.

EURCHF BULLISH A clear break above 1.2403 would signal scope for extension of gains towards 1.2646. Support lies at 1.2123.

EURGBP BEARISH Initial support is at 0.8593 ahead of 0.8530, a key low. Resistance is at 0.8740 ahead of 0.8795.

EURJPY BEARISH Clearance of 100.76 would open the way towards the psychological level of 100.00. Resistance is at 104.96.


A. White
Analyst at Fibosignals.com

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