USDCHF is following a downtrend.

June 7, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1388 1.1423 1.1455
Support 1.1321 1.1289 1.1254
Primary Scenario EURUSD is revolving around the daily pivot point at 1.1356. A decisive movement to the south will open the way down to 1.1321 and then lower at 1.1289.
Alternative Scenario An upward wave above the daily pivot will fuel the pair to retest the resistance level at 1.1388.

GBPUSD H4
Resistance 1.4496 1.4554 1.4627
Support 1.4366 1.4293 1.4235
Primary Scenario The pair indicated bullish implications in the previous session. If GBPUSD manages to cross above the hurdle at 1.4554, the next resistance is seen at 1.4627.
Alternative Scenario On the other hand, a plunge of the exchange rate below the now-support at 1.4496 will push prices to find support at the daily pivot (1.4423).

USDCHF H4
Resistance 0.9758 0.9813 0.9852
Support 0.9665 0.9626 0.9571
Primary Scenario USDCHF is following a downtrend. If the pair achieves to extend its momentum, it will target the forthcoming support level at 0.9665 and further down to 0.9626.
Alternative Scenario A surge of the currency pair above the daily pivot at 0.9719 will lift the market towards 0.9758. RSI supports this outlook.

USDJPY H4
Resistance 107.86 108.47 109.12
Support 107.23 106.34 105.50
Primary Scenario The bearish scenario is still in force. Any fruitless attempt to penetrate the barrier at 107.86 will pave the path down to 107.23 and a break back below this level will lead USDJPY lower to 106.34.
Alternative Scenario Alternatively, a successful attempt to surpass the hurdle at 107.86 will trigger the market towards 108.47.

AUDUSD H4
Resistance 0.7391 0.7417 0.7456
Support 0.7326 0.7288 0.7261
Primary Scenario AUDUSD turned sharply bullish. Should a break out occur above the key resistance at 0.7456, the next target is estimated at 0.7513.
Alternative Scenario A breach of the support level at 0.7417 will push prices to find support at 0.7391 and even lower to the daily pivot at 0.7353. RSI oscillator is trading within the overbought territory.

 

Article by ForexTime

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