AUDUSD is moving sideways.

August 3, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1090 1.1198 1.1283
Support 1.0897 1.0812 1.0704
Primary Scenario EURUSD topped up at 1.1113, before closing below the daily pivot at 1.1005. Any forceful attempt to the south will push the pair to retest the support at 1.0897. Further drop of the market will lead the exchange rate underway towards the next support level at 1.0812.
Alternative Scenario An upward wave would lift the currency pair above the daily pivot towards the resistance level at 1.1090.

 

 

GBPUSD H4
Resistance 1.5680 1.5743 1.5809
Support 1.5551 1.5485 1.5422
Primary Scenario The pair is hovering slightly above the daily pivot point at 1.5614. A decisive upward momentum will most likely trigger GBPUSD to penetrate the hurdle at 1.5680, with immediate target the resistance level at 1.5743.
Alternative Scenario On the other hand, a plunge of the market below the daily pivot will push prices to find support at 1.5551.

 

 

USDCHF H4
Resistance 0.9715 0.9776 0.9860
Support 0.9570 0.9486 0.9425
Primary Scenario USDCHF bounced up from the previous bottom at 0.9570 and is now trading above the daily pivot (0.9631). If the pair achieves to withstand the sellers’ pressure, it will climb towards the resistance levels at 0.9715 and 0.9776.
Alternative Scenario Should the pair manage to violate the daily pivot, the next support level is seen at 0.9570.

 

 

USDJPY H4
Resistance 124.11 124.57 125.03
Support 123.92 123.73 123.48
Primary Scenario The USDJPY pair is still trading above the Kumo. Any fruitful attempt to penetrate the barrier at 124.11 will fuel the pair further towards the resistance level at 124.57.
Alternative Scenario Alternatively, a comeback of the pair will push prices to find support at 123.92 and even lower at the upper level of the cloud at 123.73.

AUDUSD H4
Resistance 0.7364 0.7430 0.7495
Support 0.7232 0.7167 0.7100
Primary Scenario AUDUSD is moving sideways. A plunge of the market from current levels will open the way down to retest and breach the support level at 0.7232. Further drop of the market will push prices lower down to 0.7167.
Alternative Scenario A higher thrust of the currency pair will lead the market to surpass the daily pivot (0.7298), targeting the resistance at 0.7364.

 

 

Article by ForexTime

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