USDCHF edged up at 0.9805, before retracing below the daily pivot.

July 7, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1131 1.1162 1.1213
Support 1.1048 1.0997 1.0966
Primary Scenario EURUSD is gyrating the daily pivot point at 1.1079. A bounce up from current levels will fuel the pair to retest the hurdle in line at 1.1131 and further up to 1.1162.
Alternative Scenario A plunge of the market below the daily pivot will open the way down to 1.1048.

GBPUSD H4
Resistance 1.3037 1.3147 1.3267
Support 1.2806 1.2685 1.2575
Primary Scenario The pair bottomed at 1.2806, before closing above the daily pivot (1.2916). If GBPUSD manages to surpass the barrier at 1.3037, will most likely trigger the market to higher grounds, targeting the forthcoming resistance levels at 1.3147.
Alternative Scenario On the other hand, a reversal back below the daily pivot would push prices to find support at 1.2806.

USDCHF H4
Resistance 0.9787 0.9829 0.9853
Support 0.9721 0.9697 0.9655
Primary Scenario USDCHF edged up at 0.9805, before retracing below the daily pivot at 0.9763. Further drop of the market will pave the path down to 0.9721 and even lower at 0.9697.
Alternative Scenario An upward wave to penetrate the daily pivot will accelerate the exchange rate to hit the resistance level at 0.9787.

USDJPY H4
Resistance 101.07 101.47 102.13
Support 100.72 100.18 99.71
Primary Scenario The USDJPY pair is still under pressure. Any forceful movement to the south will push the currency pair to breach the support at 100.72, with immediate target the next support level at 100.18.
Alternative Scenario Alternatively, a higher thrust above the hurdle at 101.07 will lift the market towards 101.47.


AUDUSD H4
Resistance 0.7559 0.7602 0.7679
Support 0.7440 0.7364 0.7321
Primary Scenario AUDUSD is moving sideways. A successful attempt to exceed the barrier at 0.7559 would lead the pair towards 0.7602.
Alternative Scenario A tumble of the currency pair will push the market to find support at the daily pivot (0.7483) and then lower at 0.7440.

 

Article by ForexTime

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