4th of May 2012 - Technical Forex Market Overview

DAILY MARKET COMMENTARY
4 May 2012 – 8:00 GMT
Friday

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

EURUSD BEARISH A break below 1.3058 would trigger further weakness towards 1.2995. Resistance is at 1.3241.

USDJPY BEARISH Significant support area is at 79.64/53. Resistance is at 80.71, the mid-point of recent sell-off.

GBPUSD BULLISH A move above 1.6248 would reinforce the bullish conditions and open the way to 1.6302. Near-term support lies at 1.6112 ahead of 1.6054.

USDCHF BULLISH Key resistance is at 0.9252, while support lies at 0.9043.

AUDUSD BEARISH The pair is currently testing the critical support area at 1.0260/26, a break through which would open 1.0119. Resistance is at 1.0355.

USDCAD BEARISH Support is at 0.9829, a break here would expose 0.9800. Resistance is at 0.9927.

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

EURGBP BEARISH Trend and momentum tools are pointing south; there is scope for a move towards 0.8068. Near-term resistance is at 0.8163.

EURJPY BEARISH Initial support is at 104.61; a decline through the level would reinforce the bearish conditions and open 104.24. Resistance is at 106.55.


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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