EURUSD surged into fresh high and hit the resistance level at 1.1491.

August 24, 2015

Article by ForexTime

 

EURUSD H4
Resistance 1.1437 1.1491 1.1596
Support 1.1278 1.1173 1.1119
Primary Scenario EURUSD surged into fresh high and hit the resistance level at 1.1491. If the pair manages to withhold the sellers’ pressure, it will climb towards the forthcoming level at 1.1596.
Alternative Scenario A reversal back below the support level at 1.1437 will push prices to find support at the daily pivot (1.1332). RSI is trading within the overbought zone.

 

 

GBPUSD H4
Resistance 1.5721 1.5755 1.5787
Support 1.5656 1.5624 1.5590
Primary Scenario The pair is gyrating the daily pivot point at 1.5689. Any forceful attempt to violate the barrier at 1.5656 will open the way down to 1.5624.
Alternative Scenario Alternatively, a higher thrust of GBPUSD will trigger the market to exceed the daily pivot, with immediate target the resistance at 1.5721.

 

 

USDCHF H4
Resistance 0.9548 0.9639 0.9684
Support 0.9412 0.9367 0.9276
Primary Scenario USDCHF is following a downtrend in the 4-hour chart. A breach of the market below the support at 0.9412 will lead the currency pair to retest the previous low at 0.9367 and even lower at 0.9276.
Alternative Scenario A failed attempt to move lower will bring the pair into a correction course towards the daily pivot at 0.9503. RSI oscillator supports this outlook.

 

 

USDJPY H4
Resistance 121.68 122.36 123.46
Support 120.72 120.36 119.44
Primary Scenario The bearish scenario is still in effect. If the bears manage to take control of the bulls, the currency rate will eliminate the support levels at 120.72 and 120.36, targeting even lower to 119.44.
Alternative Scenario An upward wave would lift the market towards the resistance levels at 121.68 and 122.36. RSI is negotiating around 13 within the oversold territory.

AUDUSD H4
Resistance 0.7352 0.7392 0.7424
Support 0.7279 0.7246 0.7206
Primary Scenario AUDUSD cleared the support levels at 0.7279 and 0.7246 in today’s session. Any decisive movement to the south will push the pair to breach the final given level (0.7206), targeting the Fibonacci support level 261.8% at 0.7169.
Alternative Scenario. Should the pair achieve to penetrate the resistance level at 0.7246, the next target is seen at 0.7279.

 

 

Article by ForexTime

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