EURUSD is now testing the key support level at 1.1073.

August 17, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1164 1.1221 1.1258
Support 1.1073 1.1040 1.0982
Primary Scenario EURUSD is now testing the key support level at 1.1073. If the pair manages to break this level it will lead the exchange rate underway towards the forthcoming support level at 1.1040 and even lower to 1.0982.
Alternative Scenario A bounce up from current levels will lift the pair above the daily pivot (1.1130), targeting the resistance level at 1.1164.

 

 

GBPUSD H4
Resistance 1.5668 1.5699 1.5739
Support 1.5597 1.5557 1.5526
Primary Scenario The pair is oscillating below the hurdle at 1.5668. If GBPUSD achieves to penetrate this barrier, the next resistance is seen at 1.5699.
Alternative Scenario A comeback of the currency pair will push prices below the daily pivot at 1.5628 and even lower to 1.5597.

 

 

USDCHF H4
Resistance 0.9787 0.9816 0.9846
Support 0.9728 0.9698 0.9669
Primary Scenario USDCHF is gyrating the daily pivot at 0.9757. A successful attempt to exceed the hurdle at 0.9787 will trigger the market to target the resistance level at 0.9816 and then higher at 0.9846.
Alternative Scenario A tumble of the market will lead the pair below the daily pivot point, opening the way down to 0.9728.

 

 

USDJPY H4
Resistance 124.52 124.88 125.27
Support 124.28 124.04 123.78
Primary Scenario The pair is still negotiating within the Kumo. Any decisive movement to the south will push USDJPY to breach the lower level of the cloud at 124.28. The next support is estimated at 124.28.
Alternative Scenario Alternatively, an upward wave would fuel the pair to reach the strong resistance at the upper level of the cloud at 124.52.

AUDUSD H4
Resistance 0.7394 0.7417 0.7437
Support 0.7351 0.7331 0.7309
Primary Scenario AUDUSD has been overall neutral in the previous sessions. A plunge of the pair will push the exchange rate to find support at 0.7351 and further down to 0.7331.
Alternative Scenario. Should the pair manage to surpass the daily pivot at 0.7374, it will target the resistance level at 0.7394.

 

 

Article by ForexTime

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