AUDUSD cleared major resistance at 0.9422.

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

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