23rd of March 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
23 March 2012 – 8:00 GMT
Friday

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


TECHNICAL DATA

EURUSD BEARISH The pair is back under pressure; initial support at 1.3004 ahead of 1.2974. Key near-term resistance is at 1.3302.

USDJPY NEUTRAL Near-term support is at 82.33 ahead of 81.96. Resistance is at 83.47.

GBPUSD NEUTRAL Yesterday's sell-off has exposed support at 1.5763 ahead of 1.5725. Resistance holds at 1.5923 for now.

USDCHF NEUTRAL As long as support at 0.9072 is intact, a recovery through 0.9254 would expose 0.9342.

AUDUSD BEARISH Trend and momentum conditions are bearish; next key support lies at 1.0261 retracement level. Resistance is at 1.0484.

USDCAD NEUTRAL A rise through 1.0052, the February failure high would trigger a bull tone. Near-term support lies at 0.9912.

EURCHF NEUTRAL Resistance is at 1.2082 ahead of 1.2147. Support is at 1.2040.

EURGBP NEUTRAL Support is at 0.8265 whereas resistance is at 0.8372 ahead of 0.8424.

EURJPY BULLISH A move above 110.47 would expose 111.44. Key support to watch lies at 107.86.


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

DISCLAIMER: Fibosignals.com’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. Fibosignals.com assumes no responsibility or liability from gains or losses incurred by the information herein contained. Opinions, conclusions and other information expressed in this message are not given or endorsed by Fibosignals.com unless otherwise indicated by an authorized representative.