EURUSD surged above the key resistance at 1.1380.

April 29, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1380 1.1409 1.1451
Support 1.1308 1.1266 1.1236
Primary Scenario EURUSD surged above the key resistance at 1.1380. If the pair manages to extend its momentum, it will target the next level at 1.1409 and even higher at 1.1451.
Alternative Scenario A comeback of the exchange rate below the now-support at 1.1380 will lead the market to find support at the daily pivot point (1.1337).

GBPUSD H4
Resistance 1.4644 1.4683 1.4744
Support 1.4544 1.4483 1.4444
Primary Scenario The pair has finally achieved to penetrate the hurdle at 1.4644. Further bullish momentum will trigger the market towards 1.4683 and then higher at 1.4744.
Alternative Scenario Alternatively, a plunge of GBPUSD below 1.4644 will push prices to find support at 1.4583 (daily pivot point).

USDCHF H4
Resistance 0.9712 0.9760 0.9788
Support 0.9636 0.9607 0.9560
Primary Scenario USDCHF is following a downtrend. Should the bears manage to take control of the bulls, the next support is seen at 0.9636 and further down to 0.9607.
Alternative Scenario An upward wave would bring the pair into a correction course. If that happens, the currency pair will exceed the hurdle at 0.9636, with immediate target the daily pivot at 0.9684. RSI supports this outlook.

USDJPY H4
Resistance 107.84 108.75 109.81
Support 107.02 106.04 105.05
Primary Scenario The pair is still under pressure and has reached fresh lows. Any forceful attempt to breach the support at 107.02 will open the way down to 106.04 and even lower at 105.05.
Alternative Scenario On the other hand, a higher thrust of the market will lift USDJPY above the barrier at 107.84, targeting the resistance at 108.75. RSI is trading within the oversold zone.

AUDUSD H4
Resistance 0.7663 0.7704 0.7751
Support 0.7575 0.7527 0.7487
Primary Scenario AUDUSD bounced up from the previous bottom and is now testing the resistance level at 0.7663. A successful attempt to surpass this level will fuel the pair further towards 0.7704.
Alternative Scenario A reversal of the currency pair will pave the path down to the daily pivot at 0.7616.

 

Article by ForexTime

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