2nd of April 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
2 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 BULLISH If resistance at 1.3386 gives way, risk would be for extension of gains to the key high of 1.3486. Support holds at 1.3252 for now.

USDJPY BULLISH Failure to follow through on the break of 81.96 has shifted our focus back to upside. A recovery through 83.39 would expose 84.18. Support is at 81.83.

GBPUSD BULLISH Next target resistance is at 1.6096, where a break would open the key high of 1.6167. Support lies at 1.5947.

USDCHF BEARISH A closing break below 0.9016 would favour extension of weakness to 0.8961. Resistance is at 0.9094.

AUDUSD NEUTRAL Resistance is at 1.0515, the 38% retracement of the March sell-off. Initial support lies at 1.0305 ahead of 1.0260.

USDCAD NEUTRAL The pair is under pressure again signaling downside risk. Initial support lies at 0.9901, while resistance is at 1.0019.

EURCHF NEUTRAL Opened gap down, support is at 1.2000. Resistance is at 1.2070.

EURGBP NEUTRAL Initial resistance is at 0.8395 ahead of the key bull trigger at 0.8424. Support lies at 0.8300.

EURJPY BULLISH The cross is back up targeting the key high of 111.26; a break here would open 111.60. Support is at 108.77.


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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