USDCHF is trading near the previous top at 0.9734.

May 10, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1408 1.1436 1.1453
Support 1.1364 1.1347 1.1320
Primary Scenario EURUSD has tested the key support level at 1.1364. Should the pair manage to breach this level, it will find support at 1.1347 and then lower at 1.1320.
Alternative Scenario A higher thrust of the market will lead the exchange rate above the daily pivot (1.1391), with immediate target the resistance at 1.1408.

GBPUSD H4
Resistance 1.4464 1.4523 1.4569
Support 1.4359 1.4314 1.4254
Primary Scenario The pair is still inder pressure. Further drop of GBPUSD will pave the path down to 1.4359 and further down to 1.4314.
Alternative Scenario On the other hand, an upward wave above the daily pivot at 1.4419 would lift the currency pair towards 1.4464.

USDCHF H4
Resistance 0.9734 0.9760 0.9786
Support 0.9683 0.9657 0.9631
Primary Scenario USDCHF is trading near the previous top at 0.9734. A decisive movement upwards will lead the market to retest this level and a successful attempt to surpass higher will fuel the rate towards 0.9760 and even higher at 0.9786.
Alternative Scenario A reversal back below the daily pivot point will push prices to find support at 0.9683.

USDJPY H4
Resistance 108.89 109.36 109.85
Support 108.72 108.21 107.84
Primary Scenario The pair has just penetrated the upper level of the cloud (108.89). If USDJPY achieves to extend its momentum, the next resistance is estimated at 109.36 and then higher at 109.85.
Alternative Scenario Alternatively, a plunge of the market below the key support at 108.72 will open the way down to 108.21.

AUDUSD H4
Resistance 0.7363 0.7412 0.7440
Support 0.7285 0.7257 0.7208
Primary Scenario AUDUSD is following a downtrend. Any forceful movement to the south will lead the currency pair down to 0.7285 and even lower at 0.7257.
Alternative Scenario A surge of the market above the daily pivot at 0.7335 will trigger the market to hit the resistance at 0.7363.

 

Article by ForexTime

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