AUDUSD has recovered from the previous low.

January 8, 2016

Article by ForexTime

EURUSD H4
Resistance 1.0988 1.1048 1.1157
Support 1.0819 1.0710 1.0650
Primary Scenario EURUSD is gyrating the daily pivot point at 1.0879. A upward momentum will fuel the pair to hit the resistance level at 1.0988 and then higher at 1.1048.
Alternative Scenario A break back below the daily pivot will push prices to find support at 1.0819.

GBPUSD H4
Resistance 1.4658 1.4703 1.4766
Support 1.4551 1.4488 1.4444
Primary Scenario The pair bottomed at 1.4532, before retracing above the daily pivot at 1.4595. A decisive movement to the north will accelerate GBPUSD to target the hurdle at 1.4658 and further up to the resistance at 1.4703.
Alternative Scenario On the other hand, a comeback of the currency pair below the daily pivot will push prices to hit the support level at 1.4551.

USDCHF H4
Resistance 1.0029 1.0133 1.0157
Support 0.9871 0.9817 0.9714
Primary Scenario USDCHF is negotiating slightly below the daily pivot point (0.9975). A tumble of the exchange rate will lead the market to retest the support level at 0.9871 and even lower at 0.9817.
Alternative Scenario A surge of the market above the daily pivot will lift the market to reach the resistance at 1.0029.

USDJPY H4
Resistance 118.59 119.28 120.49
Support 118.05 117.32 116.67
Primary Scenario The pair is following a downtrend. Should the pair manage to eliminate the support at 118.05, it will pave the path down to 117.32 and then lower at 116.67.
Alternative Scenario Alternatively, a successful attempt to penetrate the hurdle at 118.59 will lead the market towards the forthcoming resistance level at 119.28.

AUDUSD H4
Resistance 0.7067 0.7129 0.7173
Support 0.6962 0.6918 0.6856
Primary Scenario AUDUSD has recovered from the previous low. Further correction of the market will push the pair to surpass the barrier at 0.7067, with immediate targets 0.7129 and 0.7173.
Alternative Scenario. A setback of the exchange rate below the daily pivot will open the way down to 0.6962.

 

Article by ForexTime

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