EURUSD rises into fresh grounds.

June 9, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1417 1.1442 1.1474
Support 1.1361 1.1329 1.1304
Primary Scenario EURUSD rises into fresh grounds. Should the pair manage to extend its momentum, it will fuel the rate to eliminate the hurdle at 1.1417, with immediate target the resistance at 1.1442 and even higher at 1.1474.
Alternative Scenario A plunge of the pair below the daily pivot at 1.1385 will pave the path down to 1.1361. RSI oscillator supports this scenario.

GBPUSD H4
Resistance 1.4568 1.4634 1.4668
Support 1.4468 1.4434 1.4368
Primary Scenario The pair is trading below the daily pivot point (1.4534). A decisive movement to the south will open the way down to 1.4468 and then lower at 1.4434.
Alternative Scenario On the other hand, a higher thrust of the exchange rate would lift GBPUSD above the daily pivot, targeting the resistance at 1.4568.

USDCHF H4
Resistance 0.9639 0.9687 0.9717
Support 0.9561 0.9532 0.9484
Primary Scenario USDCHF reached a fresh low in today’s session. Further drop of the market will push prices down to 0.9561. A break back below this level will lead the currency pair to hit the support level at 0.9532 and further down to 0.9484.
Alternative Scenario A correction course of the market would lift the exchange rate above the daily pivot (0.9610). The next resistance is seen at 0.9639. RSI is trading within the oversold zone.

USDJPY H4
Resistance 106.86 107.44 107.91
Support 106.34 105.50 104.88
Primary Scenario The USDJPY pair has tested the key support level at 106.34. If the bears manage to take control of the bulls and violate this level, the next support is estimated at 105.50.
Alternative Scenario Alternatively, a surge of the market above the barrier at 106.86 will accelerate the pair to reach the level at 107.44.

AUDUSD H4
Resistance 0.7490 0.7511 0.7541
Support 0.7438 0.7408 0.7387
Primary Scenario AUDUSD is gyrating around the daily pivot point (0.7460). A bounce up from current levels would lead the pair to retest the resistance level at 0.7490 and even higher at 0.7511.
Alternative Scenario A reversal back below the daily pivot will push the market to find support at 0.7438.

 

Article by ForexTime

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