EURUSD bounce up from the previous bottom.

June 17, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1301 1.1380 1.1465
Support 1.1137 1.1052 1.0973
Primary Scenario EURUSD bounce up from the previous bottom and is now trading above the daily pivot (1.1216). If the pair achieves to exceed the hurdle at 1.1301, it will target the resistance level at 1.1380.
Alternative Scenario A reversal back below the daily pivot will push prices to find support at 1.1137.

GBPUSD H4
Resistance 1.4299 1.4396 1.4540
Support 1.4058 1.3914 1.3817
Primary Scenario The pair is now testing the key resistance at 1.4299. Should GBPUSD manage to penetrate this barrier, the next resistance is seen at 1.4396 and even higher at 1.4540.
Alternative Scenario On the other hand, a plunge of the currency pair below the daily pivot at 1.4155 would pave the path down to 1.4058.

USDCHF H4
Resistance 0.9699 0.9750 0.9814
Support 0.9584 0.9520 0.9469
Primary Scenario USDCHF is negotiating slightly above the daily pivot point at 0.9635. Any forceful movement to the north will trigger the market to retest the hurdle in line at 0.9699 and further up to 0.9750.
Alternative Scenario A break back below the daily pivot (0.9635) will open the way down to 0.9584.

USDJPY H4
Resistance 104.36 104.82 105.33
Support 104.09 103.52 103.02
Primary Scenario The pair is still under pressure. A failed attempt to move higher will lead USDJPY to breach the support at 104.09, with immediate target the forthcoming level at 103.52.
Alternative Scenario Alternatively, an upward wave would accelerate the market to surpass the barrier at 104.36, targeting the resistance at 104.82.

AUDUSD H4
Resistance 0.7439 0.7517 0.7594
Support 0.7284 0.7207 0.7129
Primary Scenario AUDUSD is gyrating the daily pivot point (0.7362). Should the pair manage to break the barrier at 0.7439, the exchange rate would target the resistance at 0.7517.
Alternative Scenario A comeback of the market below the daily pivot will lead the pair to find support at 0.7284.

 

Article by ForexTime

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