19th of December 2011 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
19 December 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

EURUSD BEARISH Key support is at 1.2946; a break below this would open 1.2867, the Jan. 10 low. Resistance is at 1.3084.

USDJPY NEUTRAL Near-term directional triggers are at 78.29 and 77.49.

GBPUSD BEARISH Key downside trigger is at 1.5409 with interim support at 1.5434. Initial resistance is at 1.5557.

USDCHF BULLISH Pressure is on support at 0.9331; as long as this holds, watch out for a break above 0.9548 ahead of 0.9602.

AUDUSD BEARISH Focus is on 0.9861; a break below this would expose 0.9833. Resistance is at 0.9993.

USDCAD BULLISH Key upside trigger is at 1.0424, a violation of which would open 1.0474. Support is at 1.0298.

EURCHF BEARISH Initial support is at 1.2123, key low from Oct. 3. A break below this would open 1.2012, Sept. 19 low. Resistance is at 1.2398.

EURGBP BEARISH Tough support lies at 0.8356; a break below this would expose 0.8332. Resistance is at 0.8426.

EURJPY BEARISH The cross is consolidating above key support at 100.76; a break below this would open the psychological level of 100.00. Resistance is at 102.99.


A. White
Analyst at Fibosignals.com

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