USDCHF is negotiating near the previous bottom.

May 2, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1487 1.1528 1.1599
Support 1.1376 1.1306 1.1265
Primary Scenario EURUSD is now testing the resistance level at 1.1487. A successful penetration of this level will most likely fuel the pair further towards 1.1528 and then higher at 1.1599.
Alternative Scenario A reversal back below the daily pivot (1.1417) will push prices to find support at 1.1376. RSI oscillator supports this scenario.

GBPUSD H4
Resistance 1.4658 1.4710 1.4751
Support 1.4564 1.4523 1.4470
Primary Scenario The pair is gyrating the daily pivot point at 1.4617. Any decisive movement to the south will trigger GBPUSD to breach the barrier at 1.4564, with immediate target the support level at 1.4523.
Alternative Scenario On the other hand, an upward wave above the daily pivot will lift the currency pair towards 1.4658.

USDCHF H4
Resistance 0.9654 0.9713 0.9757
Support 0.9550 0.9507 0.9447
Primary Scenario USDCHF is negotiating near the previous bottom. Further drop of the market will lead the exchange rate to violate the key support at 0.9550, opening the way down to 0.9507. RSI oscillator is trading within the oversold zone.
Alternative Scenario A higher thrust of the market will lead the rate above the daily pivot, targeting the resistance at 0.9654.

USDJPY H4
Resistance 106.71 107.42 108.19
Support 106.09 105.05 104.15
Primary Scenario The pair is following a downtrend. Should USDJPY manage to violate the barrier at 106.09, the next support level is seen at 105.05.
Alternative Scenario Alternatively, a correction course would lead the pair to cross the hurdle in line at 106.71 and move towards 107.42. RSI oscillator supports this outlook.

AUDUSD H4
Resistance 0.7649 0.7699 0.7730
Support 0.7568 0.7537 0.7487
Primary Scenario AUDUSD is hovering below the daily pivot at 0.7618. A forceful attempt to breach the level at 0.7568 will push the pair to find support at 0.7537.
Alternative Scenario A surge of the market above the daily pivot point will accelerate the pair to hit the resistance at 0.7649.

 

Article by ForexTime

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