EURUSD topped up at a multi-month high at 1.1712.

August 25, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1763 1.1910 1.2108
Support 1.1419 1.1222 1.1075
Primary Scenario EURUSD topped up at a multi-month high at 1.1712, before retracing below the daily pivot point at 1.1566. A deeper correction of the market will push prices lower towards the support level at 1.1419. The next support lies at 1.1222. RSI oscillator supports this scenario.
Alternative Scenario An upward wave would fuel the pair above the daily pivot, with immediate target the resistance level at 1.1763.

 

 

GBPUSD H4
Resistance 1.5841 1.5908 1.6013
Support 1.5668 1.5563 1.5496
Primary Scenario The pair is trading narrowly above the daily pivot at 1.5735. A decisive movement to the north will trigger the market to climb towards the resistance levels at 1.5841 and 1.5908.
Alternative Scenario On the other hand, a plunge of GBPUSD below the daily pivot will open the way down to 1.5668.

 

 

USDCHF H4
Resistance 0.9434 0.9569 0.9657
Support 0.9211 0.9122 0.8987
Primary Scenario USDCHF is negotiating on the daily pivot point (0.9346). Any downward momentum will push the pair to find support at 0.9211 and then lower to 0.9122. RSI oscillator is trading within the oversold territory.
Alternative Scenario A surge of the currency pair will lift the exchange rate above the daily pivot, targeting the resistance level at 0.9434.

 

 

USDJPY H4
Resistance 120.10 120.71 122.02
Support 119.07 118.22 116.16
Primary Scenario The USDJPY pair is following a correction course. A failed attempt to exceed the hurdle at 120.10 will lead the market below the Tenkan-sen line (119.07), opening the way down to 118.22.
Alternative Scenario Alternatively, if the pair manages to extend its correction, the next resistance is estimated at 120.10 and 120.71. RSI is negotiating at 25, within the oversold zone.

AUDUSD H4
Resistance 0.7295 0.7437 0.7563
Support 0.7027 0.6901 0.6759
Primary Scenario AUDUSD bounced up from the previous low at 0.7027. If the pair achieves to withstand the sellers’ pressure, it will retest the barrier at 0.7295. A successful attempt to penetrate this level will lead the market towards the resistance level at 0.7437.
Alternative Scenario. A setback of the currency pair will push the market below the daily pivot and even lower down to 0.7027.

 

 

Article by ForexTime

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