EURUSD has experienced strong resistance during the week.

July 1, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1112 1.1162 1.1214
Support 1.1011 1.0959 1.0909
Primary Scenario EURUSD has experienced strong resistance during the week. A successful attempt to penetrate the hurdle at 1.1112 will trigger the market to hit the resistance at 1.1162.
Alternative Scenario A reversal back below the daily pivot at 1.1061 will pave the path down to 1.1011.

GBPUSD H4
Resistance 1.3438 1.3538 1.3659
Support 1.3218 1.3097 1.2998
Primary Scenario The pair is trading slightly below the daily pivot point at 1.3317. Any forceful movement to the south will push prices to find support at 1.3218 and then lower at 1.3097.
Alternative Scenario On the other hand, a higher thrust of the exchange rate would lead GBPUSD to retest the resistance at 1.3438.

USDCHF H4
Resistance 0.9848 0.9879 0.9922
Support 0.9774 0.9731 0.9700
Primary Scenario USDCHF has tested the support level at 0.9731. If the bears manage to overweigh the bulls pressure, the pair will eliminate the key support at 0.9731, with immediate target the next level at 0.9700.
Alternative Scenario An upward wave above the hurdle at 0.9774 will fuel the pair to hit the daily pivot point at 0.9805.

USDJPY H4
Resistance 103.37 103.95 104.86
Support 102.32 101.52 100.69
Primary Scenario The pair is trading on the Kumo. A decisive movement to the south will lead USDJPY towards the support level at 102.32 and further down to 101.52.
Alternative Scenario Alternatively, a surge of the market above the cloud will lift the exchange rate to retest the hurdle at 103.37.

AUDUSD H4
Resistance 0.7424 0.7466 0.7518
Support 0.7331 0.7279 0.7238
Primary Scenario AUDUSD is now testing the important resistance at 0.7466. If the pair manages to withhold the sellers’ pressure, it will surpass this level, targeting the forthcoming resistance level at 0.7518.
Alternative Scenario A comeback of the market will push the pair to find support at 0.7424.

 

Article by ForexTime

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