EURUSD turned sharply bullish in the previous session.

June 6, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1447 1.1528 1.1684
Support 1.1210 1.1054 1.0972
Primary Scenario EURUSD turned sharply bullish in the previous session. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance level at 1.447 and then higher at 1.1528.
Alternative Scenario A correction course of the market will push prices to find support at the daily pivot (1.1291) and then lower at 1.1210. RSI oscillator supports this scenario.

GBPUSD H4
Resistance 1.4592 1.4678 1.4775
Support 1.4410 1.4312 1.4227
Primary Scenario The pair is negotiating slightly below the daily pivot point at 1.4495. Any forceful attempt to the south will pave the path down to 1.4410 and further down to 1.4312.
Alternative Scenario Alternatively, an upward wave above the daily pivot will lift the exchange rate to retest the hurdle at 1.4592.

USDCHF H4
Resistance 0.9866 0.9975 1.0032
Support 0.9700 0.9643 0.9534
Primary Scenario USDCHF collapsed in the previous session. Further drop of the currency pair will most likely lead the market down to 0.9700 and then lower at 0.9643.
Alternative Scenario A higher thrust of the exchange rate would fuel the pair above the daily pivot (0.9809) and even higher at 0.9866. RSI is trading within the oversold zone.

USDJPY H4
Resistance 107.17 107.63 108.47
Support 106.34 105.50 104.88
Primary Scenario The pair is following a correction course. A failed attempt to move higher will lead USDJPY to retest the bottom at 106.34. A break back below this level will open the way down to 105.50. RSI is trading at 29.
Alternative Scenario On the other hand, a surge of the market above the hurdle at 107.17 will push the currency pair to hit 107.63.

AUDUSD H4
Resistance 0.7416 0.7467 0.7566
Support 0.7266 0.7166 0.7116
Primary Scenario AUDUSD is negotiating narrowly above the daily pivot at 0.7317. If the pair achieves to extend its uptrend, the next resistance is seen at 0.7416 and further up to 0.7467.
Alternative Scenario A reversal back below the daily pivot will push the market to find support at 0.7266.

 

Article by ForexTime

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