12th of March 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
12 March 2012 – 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 Break below 1.3096 has opened 1.2974, the Feb. 16 key low, a move below which would signal scope for deeper pull back. Resistance is at 1.3291.

USDJPY BULLISH Focus is now on 82.79, a break here would open 83.13 next. Support lies at 81.87.

GBPUSD BEARISH Decline through 1.5697 has turned the model bearish and opened 1.5645 ahead of 1.5614. Resistance is at 1.5884.

USDCHF NEUTRAL Initial support lies at 0.9072 ahead of 0.9022. Key resistances are at 0.9300 and 0.9342.

AUDUSD BEARISH Pressure is on 1.0509, a move below which would open 1.0476. Resistance is at 1.0691.

USDCAD BEARISH Support lies at 0.9873 ahead of 0.9842, the year-to-date low. Resistance is at 0.9991.

EURCHF NEUTRAL The cross continues to trade choppy in a narrow range. Resistance is at 1.2084 and support is at 1.2040.

EURGBP BULLISH Resistance is at 0.8410; a recovery through this would signal extension of gains towards 0.8433. Support lies at 0.8343.

EURJPY BULLISH A break above 108.74 would open 109.93, the year-to-date high. Support is at 106.60.


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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