AUDUSD collapsed in today’s session.

January 4, 2016

Article by ForexTime

EURUSD H4
Resistance 1.0911 1.0965 1.0995
Support 1.0828 1.0798 1.0744
Primary Scenario EURUSD bounced up from the previous bottom (1.0828) and is now heading towards the hurdle at 1.0911. If the pair manages to exceed this level, it will target the forthcoming resistance level at 1.0965.
Alternative Scenario A plunge of the market below the daily pivot (1.0882) will pave the path down to 1.0828.

GBPUSD H4
Resistance 1.4813 1.4884 1.4924
Support 1.4703 1.4662 1.4592
Primary Scenario The pair is following a downtrend. A break back below the key support at 1.4703 will lead GBPUSD to find support at 1.4662 and then lower at 1.4592.
Alternative Scenario On the other hand, an upward wave would lift the exchange rate towards the daily pivot point at 1.4773 and further up to 1.4813.

USDCHF H4
Resistance 1.0068 1.0118 1.0216
Support 0.9919 0.9821 0.9771
Primary Scenario USDCHF edged up at 1.0025, before retracing below the daily pivot (0.9969). A deeper correction of the market will push prices to find support at 0.9919 and even lower at 0.9821.
Alternative Scenario A higher thrust of the pair will fuel the pair to penetrate the daily pivot, with immediate target the resistance at 1.0068.

USDJPY H4
Resistance 119.59 120.04 120.64
Support 119.22 118.81 118.06
Primary Scenario The USDJPY pounded in the first year’s session. Further drop of the market will lead the rate to eliminate the support at 119.22, targeting the forthcoming levels at 118.81 and 118.06.
Alternative Scenario Alternatively, if the pair achieves to surpass the hurdle at 119.59, it will eye the resistance at 120.04. RSI oscillator supports this scenario.

AUDUSD H4
Resistance 0.7319 0.7353 0.7379
Support 0.7258 0.7231 0.7197
Primary Scenario AUDUSD collapsed in today’s session. A persistent trading below the now-resistance at 0.7231 will put pressure to the exchange rate to eliminate the support at 0.7197. The next support is estimated at 0.7155.
Alternative Scenario. A comeback of the market will lead the currency pair to exceed the barrier at 0.7231, targeting the resistance at 0.7258.

 

Article by ForexTime

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