13th of January 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
13 January 2012 – 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 A bounce through 1.2818 has exposed 1.2947. The underlying trend remains bearish with focus on the Jan. 11 low of 1.2662.

USDJPY BEARISH A break below 76.61 would expose the key low of 76.33. Resistance is at 77.34.

GBPUSD BEARISH The pair targets 1.5272; a push below the level would expose 1.5192, the 61.8% retracement of the 1.4231-to-1.6747 uptrend. Resistance is at 1.5501

USDCHF BULLISH A recovery through 0.9596 would open up the way towards 0.9784, the January 2011 high. Key near-term support lies at 0.9306

AUDUSD BULLISH Recovery eyes 1.0387; a break here would be an important bullish development to expose 1.0447. Initial support lies at 1.0229 ahead of 1.0146.

USDCAD NEUTRAL The key near-term directional triggers are at 1.0319 and 1.0077

EURCHF BEARISH Support lies at 1.2000, while resistance is at 1.2254.

EURGBP NEUTRAL Key resistance is at 0.8422; a break here would trigger a bull trend. Support lies at 0.8288.

EURJPY BEARISH Violation of 97.28 would expose 95.00, the base of the bear trend channel drawn off the April 11 high. Resistance is at 98.85.


SCHEDULE

Please visit our Economic Calendar for a for a schedule of market news and events: http://www.fibosignals.com/5585/calendar.html.

A. White
Analyst at Fibosignals.com

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