USDCHF is trading near the previous top at 0.9930.

May 20, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1227 1.1253 1.1277
Support 1.1177 1.1153 1.1127
Primary Scenario EURUSD is sligthly trading below the daily pivot point at 1.1203. A decisive movement to the south will lead the pair to retest the support level at 1.1177. A break back below this level will open the way down to 1.1153.
Alternative Scenario An upward wave above the daily pivot will lift the currency pair towards 1.1227.

GBPUSD H4
Resistance 1.4660 1.4712 1.4761
Support 1.4558 1.4508 1.4456
Primary Scenario The pair is gyrating the daily pivot at 1.4610. A tumble of the market below the barrier at 1.4558 will push GBPUSD down to 1.4508.
Alternative Scenario On the other hand, a successful attempt to surpass the daily pivot will fuel the pair to hit the resistance at 1.4660.

USDCHF H4
Resistance 0.9930 0.9956 0.9990
Support 0.9870 0.9836 0.9810
Primary Scenario USDCHF is trading near the previous top at 0.9930. If the pair manages to penetrate this level, the next resistance is seen at 0.9956 and then higher at 0.9990.
Alternative Scenario A reversal back below the daily pivot (0.9896) will pave the path down to 0.9870. RSI oscillator supports this outlook.

USDJPY H4
Resistance 110.34 110.99 111.87
Support 109.64 108.94 108.21
Primary Scenario The pair is heading towards the hurdle at 110.34. A successful attempt to exceed this level will most likely lead the exchange rate to hit the forthcoming resistance at 110.99.
Alternative Scenario Alternatively, a downward wave would push USDJPY below the key support at 109.64, targeting the upper level of the Kumo at 108.94.

AUDUSD H4
Resistance 0.7253 0.7280 0.7319
Support 0.7187 0.7148 0.7121
Primary Scenario AUDUSD bounced up from the previous bottom and is now negotiating above the daily pivot (0.7214). Further correction of the market will lead the pair to retest the hurdle at 0.7253 and further up to 0.7280.
Alternative Scenario Should the pair achieve to breach the daily pivot, it will find support at 0.7187.

 

Article by ForexTime

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