5th 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 BEARISH The break of 1.3150 signals scope for extension of weakness towards 1.3004, the March 15 low. Resistance is at 1.3239.

USDJPY NEUTRAL Key support lies at 81.47; a move below which would open 81.07. Resistance is at 82.99 ahead of 83.30.

GBPUSD NEUTRAL Support is marked by 1.5833/01 area, a break through which would open 1.5779, the 62% retracement of the March rally. Resistance is at 1.5975 ahead of 1.6063.

USDCHF NEUTRAL The recovery targets 0.9208, a break above would open 0.9335. Support lies at 0.9094 ahead of 0.9002.

AUDUSD BEARISH Focus on 1.0229, a break here would open the way to 1.0119. Resistance is at 1.0355.

USDCAD NEUTRAL Resistance is at 0.9991 ahead of 1.0034, while support lies at 0.9888 ahead of 0.9861-0.9842 area.

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

EURGBP BEARISH The cross tests 0.8264, a clear break here would trigger deeper sell-off towards 0.8222. Resistance is at 0.8326.

EURJPY BEARISH Pressure on 107.86, a break here would open 106.60. 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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