4th of April 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
4 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 NEUTRAL A break below 1.3134 would expose 1.3004. Resistance is at 1.3386.

USDJPY BEARISH Key support lies at 81.47; a move below which would open 81.07. Resistance is at 83.30.

GBPUSD BULLISH We view the pull back as a short-term correction and expect the pair to recover. Resistance is at 1.6063 ahead of 1.6096. Support lies at 1.5947.

USDCHF NEUTRAL The recovery through 0.9094 has shifted our focus towards 0.9179. Support lies at 0.9002.

AUDUSD BEARISH The pair is currently testing 1.0260; next support comes in at 1.0146. Resistance is at 1.0471.

USDCAD NEUTRAL Key support area is at 0.9861-0.9842. Resistance is at 0.9991.

EURCHF NEUTRAL Support is at 1.2000. Resistance is at 1.2070.

EURGBP NEUTRAL Trend conditions remain unclear. Initial support lies at 0.8283 ahead of 0.8264. Resistance is at 0.8360.

EURJPY NEUTRAL Initial support lies at 108.49, a break through which would open 107.52. Resistance is at 109.82 ahead of 111.26.


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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