AUDUSD turned sharply bullish in today’s session.

August 4, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0982 1.1016 1.1037
Support 1.0928 1.0907 1.0873
Primary Scenario EURUSD has tested the support level at 1.0928. A plunge of the pair below this level will most likely pave the path down to 1.0907 and even lower at 1.0873.
Alternative Scenario Alternatively, a higher thrust of the market will trigger the pair to exceed the daily pivot, with immediate target the resistance level at 1.0982.

 

 

GBPUSD H4
Resistance 1.5630 1.5677 1.5710
Support 1.5551 1.5518 1.5471
Primary Scenario The trading range has been limited to 1.5551 and 1.5677. If the bears manage to take control and eliminate the key support level at 1.5551, it will drop further towards the next target at 1.5518.
Alternative Scenario An upward wave would generate strength for GBPUSD to surpass the daily pivot point (1.5597), targeting the resistance level at 1.5630.

 

 

USDCHF H4
Resistance 0.9712 0.9735 0.9770
Support 0.9654 0.9619 0.9596
Primary Scenario USDCHF is now poised to retest the hurdle in line at 0.9712. A successful attempt to penetrate this level will fuel the pair further towards the resistance levels at 0.9735 and 0.9770.
Alternative Scenario A comeback of the exchange rate will push prices to breach the daily pivot at 0.9677, targeting the support level at 0.9654.

 

 

USDJPY H4
Resistance 124.11 124.57 125.03
Support 123.93 123.73 123.48
Primary Scenario The strength of the market faded, but the bullish scenario is still in force. A bounce up from current levels will lead USDJPY to exceed the hurdle at 124.11, with immediate target the resistance at 124.57.
Alternative Scenario On the other hand, should the pair manage to violate the support level at 123.93, the next support is seen at 123.73.

AUDUSD H4
Resistance 0.7314 0.7345 0.7373
Support 0.7256 0.7228 0.7197
Primary Scenario AUDUSD turned sharply bullish in today’s session. If the pair achieves to withstand the sellers’ pressure, it will penetrate the hurdle at 0.7373, targeting the Fibonacci resistance level 261.8% at 0.7430.
Alternative Scenario A reversal back below the support level at 0.7345 will push prices to find support at 0.7314.

 

 

Article by ForexTime

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