May 23, 2016
Article by ForexTime
 | EURUSD | H4 |  |
| Resistance | 1.1238 | 1.1258 | 1.1279 |
| Support | 1.1197 | 1.1176 | 1.1156 |
| Primary Scenario | EURUSD bounced up from the previous bottom and is now testing the hurdle at 1.1238. A successful attempt to penetrate this level will most likely trigger the market to hit the forthcoming resistance at 1.1258. | ||
| Alternative Scenario | A reversal back below the daily pivot point (1.1217) will push prices to find support at 1.1197. | ||
 | GBPUSD | H4 |  |
| Resistance | 1.4575 | 1.4657 | 1.4702 |
| Support | 1.4447 | 1.4402 | 1.4320 |
| Primary Scenario | The pair has finished its correction course and is now trading below the daily pivot at 1.4530. A failed attempt to move above this level will lead the exchange rate in deeper correction, targeting the support at 1.4447. | ||
| Alternative Scenario | Alternatively, a surge of GBPUSD above the daily pivot, will lift the market towards 1.4575. | ||
 | USDCHF | H4 | |
| Resistance | 0.9917 | 0.9937 | 0.9947 |
| Support | 0.9886 | 0.9875 | 0.9855 |
| Primary Scenario | USDCHF topped up at 0.9926, before closing below the daily pivot at 0.9906. A drop of the market below the key support at 0.9886 will open the way down to 0.9875. | ||
| Alternative Scenario | A higher thrust of the market above the daily pivot will fuel the pair towards the resistance level at 0.9917. | ||
 | USDJPY | H4 | |
| Resistance | 110.11 | 110.57 | 110.94 |
| Support | 109.63 | 109.28 | 108.94 |
| Primary Scenario | The strength of the market faded. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance at 110.11 and then higher at 110.57. | ||
| Alternative Scenario | On the other hand, a break back below the support at 109.63 will open the way down to 109.28. | ||
 | AUDUSD | H4 | |
| Resistance | 0.7242 | 0.7264 | 0.7280 |
| Support | 0.7204 | 0.7189 | 0.7167 |
| Primary Scenario | AUDUSD has just cleared the barrier at 0.7242 and is now poised to test the next level at 0.7264. A successful penetration of this level will lead the pair higher towards 0.7280. | ||
| Alternative Scenario | A setback of the exchange rate below the now-support at 0.7242 will push the pair down to the daily pivot point (0.7226). | ||
Article by ForexTime
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