USDCHF: The strength of the market faded.

April 19, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1337 1.1363 1.1395
Support 1.1279 1.1247 1.1220
Primary Scenario EURUSD is now poised to surpass the key resistance level at 1.1337. If that happens, the next target is seen at 1.1363 and further up to 1.1395.
Alternative Scenario A reversal back below the daily pivot at 1.1305 will push the pair to find support at 1.1279.

GBPUSD H4
Resistance 1.4333 1.4391 1.4493
Support 1.4174 1.4072 1.4014
Primary Scenario The pair is heading towards the hurdle at 1.4333. A successful attempt to penetrate this level will most likely trigger the market higher, with immediate target the resistance at 1.4391 and further up to 1.4493.
Alternative Scenario Alternatively, a plunge of GBPUSD will lead the market to hit the daily pivot (1.4231) and then lower at 1.4174.

USDCHF H4
Resistance 0.9669 0.9699 0.9720
Support 0.9617 0.9596 0.9566
Primary Scenario The strength of the market faded and USDCHF has breached the daily pivot point at 0.9648. Further drop of the market would push prices towards the support at 0.9617 and even deeper at 0.9596.
Alternative Scenario An upward wave will lift the exchange rate to exceed the daily pivot, targeting the hurdle at 0.9669.

USDJPY H4
Resistance 109.23 109.71 110.11
Support 108.95 108.48 107.82
Primary Scenario USDJPY is trading within the cloud. A failed attempt to move higher and a violation of the support at 108.95 will open the way down to 108.48 and then outside of the Kumo towards 107.82.
Alternative Scenario On the other hand, should the pair achieve to extend its bullish momentum, it will eliminate the barrier at 109.23. The next resistance is estimated at 109.71.

AUDUSD H4
Resistance 0.7793 0.7839 0.7920
Support 0.7665 0.7584 0.7538
Primary Scenario AUDUSD is now testing the hurdle at 0.7793. If the pair manages to penetrate this level, it will climb towards the forthcoming resistance at 0.7839 and further up to 0.7920.
Alternative Scenario A setback of the market will put pressure to the currency pair to retest the daily pivot (0.7712) and even lower to 0.7665.

 

Article by ForexTime

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