AUDUSD plunged below the daily pivot point.

April 25, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1282 1.1340 1.1372
Support 1.1191 1.1159 1.1101
Primary Scenario EURUSD is still under pressure. A decisive movement to the south will pave the path down to 1.1191 and then lower at 1.1159.
Alternative Scenario An upward wave above the daily pivot (1.1249) will lift the exchange rate towards 1.1282.

GBPUSD H4
Resistance 1.4460 1.4524 1.4598
Support 1.4322 1.4248 1.4184
Primary Scenario The pair has tested the hurdle in line at 1.4460. A successful attempt to penetrate this level will trigger the market towards the forthcoming resistance level at 1.4524 and further up to 1.4598.
Alternative Scenario Alternatively, a tumble of the market below the daily pivot (1.4386) will push prices to find support at 1.4322.

USDCHF H4
Resistance 0.9807 0.9834 0.9872
Support 0.9742 0.9704 0.9677
Primary Scenario USDCHF is negotiating on the daily pivot point at 0.9769. A bounce up from current levels will fuel the pair to hit the resistance at 0.9807 and even higher at 0.9834.
Alternative Scenario Should the pair achieve to violate the daily pivot, it will retest the support level at 0.9742.

USDJPY H4
Resistance 111.33 111.85 112.48
Support 111.01 110.57 109.84
Primary Scenario The pair indicated bullish implications in the previous session. If the pair manages to extend its momentum, it will eliminate the hurdle at 111.33, targeting the resistance levels at 111.85 and further up to 112.48.
Alternative Scenario On the other hand, a break back below the key support at 111.01 will lead USDJPY deeper towards 110.57.

AUDUSD H4
Resistance 0.7755 0.7804 0.7835
Support 0.7674 0.7643 0.7594
Primary Scenario AUDUSD plunged below the daily pivot point (0.7724). Further drop of the market will push the pair to find support at 0.7674 and then lower at 0.7643.
Alternative Scenario An upward wave will lead the currency pair above the daily pivot, with immediate target the resistance at 0.7755.

 

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

9 years ago