20th of April 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY 20 April 2012 – 8:00 GMT Friday _____________________________________________________________________ Market Analysis Desk Foreign Exchange Research: www.fibosignals.com/5585/resources.html _____________________________________________________________________ TECHNICAL DATA EURUSD BEARISH Initial support lies at 1.3058, a move below would signal resumption of weakness towards 1.2974/54 area. Resistance is at 1.3213. USDJPY NEUTRAL A clear break through 81.78 would be a bullish development signalling scope for further gains towards 82.24. Support is at 80.84. GBPUSD BULLISH Key resistance is at 1.6090, a break above would open the doors for a move towards 1.6167. Support lies at 1.5950. 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 Trend conditions are bearish; there is scope for a move towards 1.0226. Resistance is at 1.0471. USDCAD BEARISH Key support lies at 0.9842, a break here would be a bearish development. Next support is at 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 Focus is on support at 0.8142; a break here would extend weakness towards 0.8068. Resistance is at 0.8222. EURJPY NEUTRAL The cross pressures 107.47, a break above would resume strength and opens 108.04. Support is at 106.11 ahead of 105.29. 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.