USDCHF cleared the important support level at 0.9892.

May 26, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1169 1.1186 1.1207
Support 1.1131 1.1110 1.1093
Primary Scenario EURUSD is now testing the hurdle at 1.1186. If the pair seizes the opportunity and exceed this level, the next resistance is seen at 1.1207.
Alternative Scenario A reversal back below the key support at 1.1169 will pave the path down to the daily pivot (1.1148).

GBPUSD H4
Resistance 1.4748 1.4802 1.4876
Support 1.4619 1.4545 1.4491
Primary Scenario The pair is heading towards the resistance level at 1.4748. A successful attempt to penetrate this level will trigger GBPUSD to target the forthcoming resistance at 1.4802.
Alternative Scenario On the other hand, a comeback of the currency pair will push prices to find support at the daily pivot (1.4674) and even lower at 1.4619. RSI supports this outlook.

USDCHF H4
Resistance 0.9930 0.9951 0.9968
Support 0.9892 0.9874 0.9853
Primary Scenario USDCHF cleared the important support level at 0.9892 in today’s session. Further drop of the market will lead the exchange rate to test the forthcoming levels at 0.9874 and further down to 0.9853.
Alternative Scenario An upward wave above the daily pivot at 0.9913 would lift the currency pair towards 0.9930.

USDJPY H4
Resistance 109.78 110.18 110.57
Support 109.42 109.09 108.71
Primary Scenario The pair is trading slightly above the upper level of the cloud. Any forceful attempt to surpass the barrier at 109.78 will accelerate USDJPY to target the next resistance at 110.18.
Alternative Scenario Alternatively, a tumble of the market will push the pair within the Kumo towards 109.42 and then lower at 109.09.

AUDUSD H4
Resistance 0.7218 0.7240 0.7263
Support 0.7172 0.7150 0.7127
Primary Scenario AUDUSD has experienced strong resistance in the previous session. A bounce up from current levels will fuel the pair to eliminate the barrier at 0.7218, targeting the next resistance at 0.7240.
Alternative Scenario A plunge of the currency pair below the daily pivot (0.7195) will push the rate to find support at 0.7172.

 

Article by ForexTime

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