EURUSD slushed in the previous session.

April 21, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1358 1.1421 1.1456
Support 1.1260 1.1226 1.1163
Primary Scenario EURUSD slushed in the previous session. If the pair manages to extend its bearish momentum, it will target the forthcoming support levels at 1.1260 and 1.1226.
Alternative Scenario An upward wave would lift the exchange rate towards the daily pivot (1.1324) and then higher at 1.1358.

GBPUSD H4
Resistance 1.4383 1.4436 1.4463
Support 1.4303 1.4276 1.4223
Primary Scenario The pair lost its previous gains and achieved to cross below the daily pivot point at 1.4356. Should GBPUSD manage to drop below the key support at 1.4303, the next support is seen at 1.4276 and further down to 1.4223.
Alternative Scenario Alternatively, a higher thrust of the currency pair will lead the rate to hit the daily pivot and even higher at 1.4383.

USDCHF H4
Resistance 0.9768 0.9815 0.9898
Support 0.9638 0.9555 0.9508
Primary Scenario USDCHF surged above the daily pivot, after a strong bullish movement. Further bullish momentum will accelerate the pair to climb towards the resistance levels at 0.9768 and 0.9815.
Alternative Scenario A reversal back below the daily pivot (0.9685) will push prices to find support at 0.9638.

USDJPY H4
Resistance 109.88 110.21 110.66
Support 109.56 109.17 108.74
Primary Scenario The pair is now testing the upper level of the cloud at 109.56. A bounce up from current levels will trigger USDJPY to target the resistance level at 109.88 and even higher at 110.21.
Alternative Scenario On the other hand, a plunge of the pair below the important support at 109.56 will lead the market within the cloud down to 109.17.

AUDUSD H4
Resistance 0.7825 0.7858 0.7887
Support 0.7763 0.7733 0.7700
Primary Scenario AUDUSD is gyrating the daily pivot point at 0.7795. If the pair manages to withstand the sellers’ pressure, the next resistance is seen at 0.7825 and further up to 0.7858.
Alternative Scenario A comeback of the market below the daily pivot will open the way down to 0.7763.

 

Article by ForexTime

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