GBPUSD erased its gains.

November 23, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0708 1.0771 1.0806
Support 1.0610 1.0576 1.0513
Primary Scenario EURUSD is now testing the key support level at 1.0610. A break back below this level will most likely push prices to find support at 1.0576 and even lower at 1.0513.
Alternative Scenario A bounce up from current levels will lift the exchange rate towards the daily pivot point at 1.0674.

GBPUSD H4
Resistance 1.5268 1.5352 1.5395
Support 1.5142 1.5098 1.5015
Primary Scenario The pair erased its gains and violated the daily pivot point at 1.5225. Further drop of the market will lead GBPUSD below the support level at 1.5142 and further down to 1.5098.
Alternative Scenario An upward wave would fuel the pair to reach the daily pivot point.

USDCHF H4
Resistance 1.0211 1.0242 1.0287
Support 1.0135 1.0090 1.0059
Primary Scenario USDCHF is now poised to penetrate the important resistance at 1.0211. If that happens, the next resistance level is seen at 1.0242 and then higher at 1.0287.
Alternative Scenario Alternatively, a comeback of the currency pair will push the market to find support at the daily pivot (1.0166).

USDJPY H4
Resistance 123.25 123.74 124.14
Support 123.08 122.82 122.48
Primary Scenario The USDJPY pair has managed to withhold the sellers’ pressure and remained above the Kumo. A successful attempt to exceed the hurdle at 123.25 will trigger the market to climb towards the resistance at 123.74.
Alternative Scenario On the other hand, a plunge of the exchange rate below the support level at 123.08 will open the way down to 122.82.

AUDUSD H4
Resistance 0.7259 0.7287 0.7325
Support 0.7192 0.7154 0.7126
Primary Scenario AUDUSD edged up at 0.7249, before retracing below the daily pivot at 0.7221 and the support level at 0.7192. A deeper correction of the pair will push the rate to eliminate the support at 0.7154, with immediate target the forthcoming support at 0.7126.
Alternative Scenario. A surge of the market above the now-resistance level at 0.7192 will fuel the pair to hit the daily pivot point.

 

Article by ForexTime

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