16th of April 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
16 April 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 The pair tests 1.3004, a clear break here would open the way to significant support area at 1.2974/54. Resistance is at 1.3213.

USDJPY NEUTRAL Key support lies at 80.57, a break below would open 80.10. Initial resistance is at 81.20 ahead of 81.87.

GBPUSD NEUTRAL Support lies at 1.5801 ahead of 1.5779. Resistance is at 1.5986.

USDCHF NEUTRAL The recovery targets 0.9335, a break here would be an important bullish signal. Support lies at 0.9092 ahead of 0.9002.

AUDUSD BEARISH The pair resumes weakness, our support focus is on 1.0226. A breach here would open 1.0119. Resistance is at 1.0381 ahead of 1.0471.

USDCAD NEUTRAL The range extending from 1.0052 to 0.9834 is intact. Initial support lies at 0.9888.

EURCHF NEUTRAL Resistance is at 1.2049 ahead of 1.2070, while support lies at 1.2000.

EURGBP BEARISH The cross remains under pressure, testing the initial support at 0.8222; a clear break below would open 0.8201. Resistance is at 0.8279.

EURJPY BEARISH The break below 105.45 extends weakness towards 105.05 and then 104.24. Resistance is at 107.47.


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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