GBPUSD collapsed in today’s session.

June 24, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1342 1.1390 1.1443
Support 1.1241 1.1188 1.1140
Primary Scenario EURUSD plunged into fresh lows. Should the pair achieve to extend its downtrend, the next support is seen at 1.0908 and then lower at 1.0822.
Alternative Scenario An upward wave would lead the pair towards 1.1024. RSI oscillator is trading at 24.

GBPUSD H4
Resistance 1.4771 1.4838 1.4903
Support 1.4639 1.4573 1.4506
Primary Scenario The pair collapsed in today’s session. Further drop of GBPUSD will pave the path down to 1.3226 and even lower at 1.3016.
Alternative Scenario Alternatively, a correction course will lift the exchange rate towards 1.3504 and further up 1.3654. RSI supports this scenario.

USDCHF H4
Resistance 0.9622 0.9663 0.9699
Support 0.9544 0.9508 0.9467
Primary Scenario USDCHF has cleared all the given resistances. If the pair manages to withhold the sellers’ pressure, it will penetrate the hurdle at 0.9740, with immediate target the resistance at 0.9800.
Alternative Scenario A comeback of the pair below the now-support at 0.9699 will open the way down to 0.9663. RSI is trading within the overbought territory.

USDJPY H4
Resistance 101.81 102.41 103.04
Support 101.01 100.22 98.98
Primary Scenario The pair topped up above the Kumo, before turning sharply again below it. If the bears manage to take control of the bulls, and eliminate the key support at 101.01, the next support is estimated at 100.22 and then lower at 98.98.
Alternative Scenario On the other hand, a successful penetration of the hurdle at 101.81 will fuel the pair towards 102.41.

AUDUSD H4
Resistance 0.7536 0.7573 0.7621
Support 0.7451 0.7403 0.7366
Primary Scenario AUDUSD turned sharply bearish. A break back below the support at 0.7303 will push prices to find support at 0.7257.
Alternative Scenario A surge of the pair above the barrier at 0.7366 will trigger the market to hit the resistance at 0.7403.

 

Article by ForexTime

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