AUDUSD turned sharply bearish in today’s session.

April 27, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1336 1.1378 1.1419
Support 1.1254 1.1213 1.1171
Primary Scenario EURUSD is revolving the daily pivot point at 1.1296. A surge of the market will fuel the pair to hit the hurdle at 1.1336 and further up to 1.1378.
Alternative Scenario A comeback of the market below the daily pivot will push prices to find support at 1.1254.

GBPUSD H4
Resistance 1.4652 1.4725 1.4812
Support 1.4491 1.4404 1.4331
Primary Scenario The pair is trading near the previous top (1.4652). If GBPUSD manages to withhold the sellers’ pressure, it will eliminate this level, targeting the forthcoming resistance at 1.4725.
Alternative Scenario Alternatively, a break back below the daily pivot (1.4564) will bring the market into a correction course, with immediate target the support level at 1.4491. RSI supports this outlook.

USDCHF H4
Resistance 0.9765 0.9798 0.9831
Support 0.9700 0.9668 0.9635
Primary Scenario USDCHF is gyrating the daily pivot point (0.9733). A bounce up from current levels will trigger the market to retest the barrier at 0.9765. A successful attempt to exceed this level will lift the currency pair towards 0.9798.
Alternative Scenario A tumble of the market will most likely violate the daily pivot and the next support is seen at 0.9700.

USDJPY H4
Resistance 111.46 111.85 112.48
Support 110.65 110.26 109.81
Primary Scenario The trend has been overall neutral during this week. Any forceful attempt to penetrate the hurdle at 111.46 will fuel the pair towards 111.85 and then higher at 112.48.
Alternative Scenario On the other hand, a reversal back below the support at 110.65 will pave the path down to 110.26.

AUDUSD H4
Resistance 0.7774 0.7803 0.7843
Support 0.7706 0.7666 0.7637
Primary Scenario AUDUSD turned sharply bearish in today’s session and achieved to violate all the given supports. Further drop of the pair will lead the exchange rate to breach the key support at 0.7618, targeting the forthcoming level at 0.7582.
Alternative Scenario An upward wave will push the pair above the now-resistance at 0.7637 and even higher at 0.7666. RSI oscillator is trading within the oversold territory.

 

Article by ForexTime

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