AUDUSD is now testing the key support level at 0.7327.

August 6, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0942 1.0980 1.1028
Support 1.0857 1.0809 1.0771
Primary Scenario EURUSD managed to surpass the daily pivot at 1.0895, after reaching the support level at 1.0857. Any further increase of the exchange rate will most likely accelerate the pair to climb towards the resistance levels at 1.0942 and then higher to 1.0980.
Alternative Scenario A comeback of the currency pair below the daily pivot will push prices to retest the support level at 1.0857.

 

 

GBPUSD H4
Resistance 1.5658 1.5717 1.5783
Support 1.5533 1.5467 1.5409
Primary Scenario The pair is still gyrating the daily pivot point at 1.5592. A decisive movement to the north will trigger GBPUSD to penetrate the barrier at 1.5658,, targeting the resistance level at 1.5717.
Alternative Scenario Alternatively, a plunge of the market below the daily pivot will pave the path down to 1.5533.

 

 

USDCHF H4
Resistance 0.9819 0.9851 0.9881
Support 0.9758 0.9728 0.9667
Primary Scenario USDCHF topped up at 0.9819, before closing below the daily pivot point (0.9789). A deeper correction of the market will open the way down towards the support levels at 0.9758 and 0.9728.
Alternative Scenario An upward wave would lift the exchange rate above the daily pivot. If that happens, the next resistance is seen at 0.9819.

 

 

USDJPY H4
Resistance 125.00 125.49 125.86
Support 124.68 124.27 123.94
Primary Scenario The pair surged into fresh highs in today’s session. If the pair achieves to extend its momentum and exceed the hurdle at 125.00, the next resistance is estimated at 125.49.
Alternative Scenario On the other hand, a drop of USDJPY below the support level at 124.68 will open the way down to 124.27.

AUDUSD H4
Resistance 0.7387 0.7421 0.7448
Support 0.7327 0.7300 0.7266
Primary Scenario AUDUSD is now testing the key support level at 0.7327. A break back below this level will push the pair to find support at 0.7300 and further down to 0.7266.
Alternative Scenario A bounce up from current levels will fuel the pair to target the daily pivot at 0.7360 and even higher to 0.7387.

 

 

Article by ForexTime

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