AUDUSD is heading towards the support level at 0.6962.

September 24, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1229 1.1274 1.1337
Support 1.1121 1.1059 1.1014
Primary Scenario EURUSD bounced up from the previous bottom and is now trading slightly above the daily pivot at 1.1167. Should the pair manage to exceed the hurdle at 1.1229, it will eye the forthcoming resistance level at 1.1274.
Alternative Scenario A setback of the currency pair will push the pair below the daily pivot point and then lower to 1.1121.

 

 

GBPUSD H4
Resistance 1.5331 1.5421 1.5477
Support 1.5184 1.5129 1.5038
Primary Scenario The pair is hovering below the daily pivot point (1.5275). A decisive movement to the south will most likely lead the pair to target the support level at 1.5184 and then lower at 1.5129. RSI is trading within the oversold zone.
Alternative Scenario A higher thrust of GBPUSD will lift the exchange rate above the daily pivot, towards the resistance at 1.5331.

 

 

USDCHF H4
Resistance 0.9818 0.9842 0.9884
Support 0.9752 0.9710 0.9686
Primary Scenario USDCHF is following an uptrend. If the pair manages to withhold the sellers’ pressure, the next resistance is seen at 0.9818 and further up to 0.9842.
Alternative Scenario A comeback of the currency pair will push prices below the daily pivot, opening the way down to 0.9752.

 

 

USDJPY H4
Resistance 120.08 120.25 120.54
Support 119.85 119.61 119.04
Primary Scenario The pair is negotiating narrowly below the Kumo. Any forceful bearish movement will lead USDJPY to violate the support level at 119.85, targeting the next level at 119.61.
Alternative Scenario Alternatively, an upward wave would trigger the market to penetrate the hurdle at 120.08. The next resistance is estimated at 120.25.

AUDUSD H4
Resistance 0.7062 0.7125 0.7162
Support 0.6962 0.6925 0.6862
Primary Scenario AUDUSD is heading towards the support level at 0.6962. A fruitful attempt to breach this level will lead the market to clear the next support at 0.6925, paving the way down to 0.6862.
Alternative Scenario. On the other hand, a surge of the market above the daily pivot (0.7025) will fuel the pair further towards the resistance level at 0.7062. RSI supports this outlook.

 

 

Article by ForexTime

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