July 23, 2014
Article by ForexTime
 | EURUSD | H4 |  |
| Resistance | 1.3510 | 1.3554 | 1.3580 |
| Support | 1.3439 | 1.3413 | 1.3368 |
| Primary Scenario | EURUSD collapsed on the previous session and pushed the market below the daily pivot (1.3484). A sustained trading below this level, would lead the pair to find support at 1.3439 and further down at 1.3413. | ||
| Alternative Scenario | Alternatively, if the market manages to withstand the sellers’ pressure, it will surpass the daily pivot, moving higher to the resistance level at 1.3510. RSI oscillator supports this scenario. | ||
 | GBPUSD | H4 |  |
| Resistance | 1.7083 | 1.7104 | 1.7125 |
| Support | 1.7042 | 1.7020 | 1.7000 |
| Primary Scenario | The pair is revolving around the daily pivot at 1.7062. Any decisive movement upwards, would be a catalyst for the market to exceed the hurdle at 1.7083. The next target is the resistance at 1.7104. | ||
| Alternative Scenario | A plunge of GBPUSD below the daily pivot, would indicate bearish implications and will push the market lower to the support level at 1.7042. | ||
 | USDCHF | H4 | |
| Resistance | 0.9040 | 0.9058 | 0.9089 |
| Support | 0.8991 | 0.8959 | 0.8941 |
| Primary Scenario | In previous session USDCHF saw a strong surge higher and led the pair to a fresh high (May). If the pair manages to extend its uptrend, it will climb towards the resistance level at 0.9040 and then higher at 0.9058. RSI oscillator is within an overbought area. | ||
| Alternative Scenario | A comeback of the rate below the daily pivot, will push the pair to find support at 0.8991. | ||
 | USDJPY | H4 | |
| Resistance | 101.50 | 101.66 | 101.78 |
| Support | 101.33 | 101.18 | 100.93 |
| Primary Scenario | USDJPY experienced strong resistance at the current levels below the cloud. An impulsive movement downwards, would generate strength for the bears to breach the support at 101.33. The next support is estimated at 101.18. | ||
| Alternative Scenario | A higher thrust of the pair will lift the market to reach the resistance level at 101.50 and even higher at 101.66. | ||
 | AUDUSD | H4 | |
| Resistance | 0.9422 | 0.9452 | 0.9484 |
| Support | 0.9361 | 0.9329 | 0.9299 |
| Primary Scenario | AUDUSD cleared major resistance at 0.9422 and triggered the market to target the next resistance at 0.9452 and 0.9484. | ||
| Alternative Scenario | Should the pair manage to breach the support at 0.9422, it will drop further to 0.9391. | ||
Article by ForexTime
ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com
