AUDUSD has just cleared the hurdle at 0.7134.

January 29, 2016

Article by ForexTime

EURUSD H4
Resistance 1.0983 1.1023 1.1081
Support 1.0885 1.0827 1.0787
Primary Scenario EURUSD topped up at 1.0966, before retracing below the daily pivot point at 1.0925. If the bears manages to take control of the bulls, the next support is seen at 1.0885 and further down to 1.0827.
Alternative Scenario A higher thrust of the exchange rate would lead the market to surpass the daily pivot, with immediate target the resistance at 1.0983.

GBPUSD H4
Resistance 1.4432 1.4508 1.4609
Support 1.4255 1.4154 1.4078
Primary Scenario The pair is now heading towards the resistance level at 1.4432. A successful penetration of this level will trigger the market to hit the forthcoming resistance at 1.4508 and then higher at 1.4609.
Alternative Scenario Alternatively, a reversal back below the daily pivot (1.4331) will pave the path down to 1.4255.

USDCHF H4
Resistance 1.0169 1.0206 1.0236
Support 1.0103 1.0072 1.0036
Primary Scenario USDCHF is now testing the key resistance at 1.0169. A break through this level will fuel the pair towards the resistance level at 1.0206 and then higher at 1.0236.
Alternative Scenario A tumble of the market would push prices to find support at the daily pivot (1.0139) and further down to 1.0103.

USDJPY H4
Resistance 120.94 121.42 122.02
Support 120.20 119.92 119.54
Primary Scenario A strong bullish movement led USDJPY to reach a fresh high at 121.424. A bounce up from current levels will accelerate the rate to exceed the resistance at 120.94, attempting to retest the previous top and even higher at 122.02.
Alternative Scenario A comeback of the currency pair will bring the market into a correction course, targeting the support levels at 120.20 and 119.92. RSI supports this outlook.

AUDUSD H4
Resistance 0.7134 0.7191 0.7254
Support 0.7013 0.6950 0.6893
Primary Scenario AUDUSD has just cleared the hurdle at 0.7134. If the pair manages to withstand the sellers’ pressure, it will climb towards the forthcoming resistance level at 0.7191 and then higher at 0.7254.
Alternative Scenario. Should the pair achieve to breach the now support at 0.7134, the pair will find support at the daily pivot at 0.7070. RSI is trading within the overbought territory.

 

Article by ForexTime

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