AUDUSD: Testing the critical resistance at 0.7831.

March 23, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0916 1.1012 1.1143
Support 1.0689 1.0558 1.0462
Primary Scenario EURUSD has finally managed to penetrate the daily pivot point at 1.0785. A decisive movement to the north will lead the market to retest the resistance level at 1.0916 and further up at 1.1012.
Alternative Scenario A reversal back of the pair will push the exchange rate below the daily pivot towards the support level at 1.0689.

 

 

GBPUSD H4
Resistance 1.5049 1.5152 1.5316
Support 1.4782 1.4618 1.4515
Primary Scenario The pair is trading narrowly above the daily pivot (1.4885). An upward wave would fuel GBPUSD to target  the hurdle at 1.5049 and then higher at 1.5152.
Alternative Scenario A plunge of the market below the daily pivot will push the pair to find support at 1.4782.

USDCHF H4
Resistance 0.9853 0.9966 1.0028
Support 0.9677 0.9615 0.9502
Primary Scenario USDCHF is negotiating below the daily pivot at 0.9791. If the pair manages to extend its downtrend it will drop further towards the support levels at 0.9677 and 0.9615.
Alternative Scenario On the other hand, a higher thrust of the currency pair will lead the pair to exceed the daily pivot, with immediate target the resistance at 0.9853.

 

USDJPY H4
Resistance 120.10 120.38 120.72
Support 119.74 119.29 118.70
Primary Scenario USDJPY declined sharply on the previous session. Further drop of the market will push prices to breach the support level at 119.74. The next support is seen at 119.29.
Alternative Scenario Alternatively, a surge of the pair will lead the market to exceed the key resistance at 120.10, targeting the next resistance at 120.38 (Kijun-sen).

 

AUDUSD H4
Resistance 0.7831 0.7895 0.7989
Support 0.7673 0.7579 0.7515
Primary Scenario The pair is now testing the critical resistance at 0.7831. A successful attempt to penetrate this level will most likely trigger the market to climb towards the resistance level at 0.7895 and even higher at 0.7989.
Alternative Scenario A setback of Aussie will push prices below the daily pivot, down to the support level at 0.7673.

 

 

Article by ForexTime

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