USDCHF is now heading towards the support level at 0.9888.

December 9, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0918 1.0946 1.0990
Support 1.0846 1.0801 1.0774
Primary Scenario EURUSD is now testing the hurdle in line at 1.0918. If the pair manages to withstand the sellers’ pressure, it will exceed this level, with immediate target the resistance level at 1.0946 and then higher at 1.0990.
Alternative Scenario A comeback of the currency pair will push prices to find support at the daily pivot point at 1.0873 and further down to 1.0846.

GBPUSD H4
Resistance 1.5057 1.5111 1.5161
Support 1.4953 1.4902 1.4849
Primary Scenario The pair bounced up from the previous low and is now negotiating above the daily pivot (1.5007). A decisive movement to the north will trigger the market to hit the resistance level at 1.5057 and even higher at 1.5111.
Alternative Scenario Alternatively, should the pair achieve to violate the daily pivot, the next support is seen at 1.4953.

USDCHF H4
Resistance 09981 1.0041 1.0073
Support 0.9888 0.9856 0.9795
Primary Scenario USDCHF is now heading towards the support level at 0.9888. A break below this level will lead the market underway down to 0.9856 and even lower at 0.9795.
Alternative Scenario A higher thrust of the market will fuel the pair to penetrate the daily pivot (0.9948), targeting the resistance level at 0.9981.

USDJPY H4
Resistance 122.95 123.18 123.47
Support 122.63 122.47 122.28
Primary Scenario The pair has finally breached the Kumo and a new bearish outlook is now in force. Further drop of USDJPY will push the market to eliminate the support at 122.63, paving the path down to 122.47 and then lower at 122.28.
Alternative Scenario On the other hand, an upward wave would lift the exchange rate to hit the resistance level at 122.95.

AUDUSD H4
Resistance 0.7258 0.7306 0.7342
Support 0.7175 0.7138 0.7091
Primary Scenario AUDUSD is oscillating around the daily pivot point at 0.7222. A plunge of the market below the support at 0.7175 will push the market to find support at 0.7138.
Alternative Scenario. A successful attempt to surpass the daily pivot will lead the market to retest the hurdle at 0.7258.

 

Article by ForexTime

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