26th of March 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
26 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 NEUTRAL As long as resistance at 1.3302 holds, we expect the pair to remain under pressure. Support lies at 1.3134.

USDJPY NEUTRAL The sell-off in USDJPY stalled ahead of 81.96, the 62% retracement of the recovery since March 6. Resistance is at 83.04 ahead of 84.18.

GBPUSD NEUTRAL Price action has been choppy over the past week; support is at 1.5763 ahead of 1.5725. Resistance holds at 1.5923 for now.

USDCHF NEUTRAL A closing break below 0.9072 would expose 0.9022 and 0.8931 next. Resistance is at 0.9179.

AUDUSD BEARISH Outlook remains bearish; initial support is at 1.0336 ahead of 1.0261 retracement level. Resistance is at 1.0522.

USDCAD BEARISH The pair pulled back after approaching key resistance at 1.0052. This signals scope for a decline through 0.9948 to open 0.9861.

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

EURGBP NEUTRAL The key near-term directional triggers are at 0.8424 and 0.8283.

EURJPY BULLISH Trend is bullish; a recovery through 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

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