22nd of November 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
22 November 2011 – 8:00 GMT
Tuesday

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

USDCAD clears 1.0365

EURUSD BEARISH Support at 1.3406 is intact, a break below which would expose 1.3346. Resistance is at 1.3614.

USDJPY BEARISH Initial support lies at 76.58 ahead of 76.34. Near-term resistance is at 77.50.

GBPUSD BEARISH The pair is testing 1.5614, a clear break below which would open 1.5543 and then 1.5483. Initial resistance is at 1.5806.

USDCHF BULLISH Initial resistance is at 0.9237, a rise through which would expose 0.9316, the key high from Oct. 6. Support lies at 0.9079.

AUDUSD BEARISH Initial support is at 0.9710 ahead of 0.9622. Resistance is at 1.0020.

USDCAD BULLISH Yesterday's sharp rise broke through 1.0365 to open 1.0419 and 1.0477 next. Support lies at 1.0270.

EURCHF BULLISH The cross is consolidating below 1.2474, a rise through which would signal scope for gains towards 1.2646. Key support lies at 1.2281.

EURGBP NEUTRAL Break of 0.8612 has opened the way for gains towards 0.8656 and 0.8699. Initial support lies at 0.8547.

EURJPY BEARISH Key support is at g103.23; a clear break below would expose 102.43 and 101.62. Resistance is at 104.39.


A. White
Analyst at Fibosignals.com

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