18th of April 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
18 April 2012 – 8:00 GMT
Wednesday

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

EURUSD BEARISH Support is at 1.2974/54 area, a break through which would signal extension of weakness. Resistance is at 1.3213.

USDJPY NEUTRAL The recovery targets resistance at 81.78, a break above would open 82.24. Key support area is at 80.30/10.

GBPUSD NEUTRAL Resistance is at 1.5986 ahead of 1.6063, while a pull back through 1.5801 would resume weakness.

USDCHF NEUTRAL Initial resistance is at 0.9252, a move above would open 0.9335. Support lies at 0.9092 ahead of 0.9002.

AUDUSD BEARISH Resistance at 1.0471 is intact. Near-term support lies at 1.0299 ahead of 1.0226.

USDCAD BEARISH Focus is back on support at 0.9842, a break here would be a bearish development and open the way towards 0.9766. Resistance is at 1.0053.

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

EURGBP BEARISH Support focus is on 0.8210, a break below would open 0.8142. Resistance is at 0.8279.

EURJPY NEUTRAL The cross has resistance at 107.47 ahead of 108.04. Support is at 104.63/24 area.


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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