EURUSD reached a 10-month low.

August 20, 2014

Article by ForexTime

EURUSD H4
Resistance 1.3351 1.3383 1.3402
Support 1.3300 1.3281 1.3249
Primary Scenario The market reached the support at 1.3300, a 10-month low. Should the pair manage to violate this level, it will drop further down to 1.3281 and then lower at 1.3249.
Alternative Scenario A bounce up from current prices, will bring EURUSD into a correction course up to the daily pivot at 1.3332.

 

GBPUSD H4
Resistance 1.6691 1.6768 1.6808
Support 1.6574 1.6534 1.6457
Primary Scenario GBPUSD is heading towards the support level at 1.6574. A successful breach of this barrier, would push prices lower to the next target at 1.6534 and 1.6457.
Alternative Scenario An upward wave would be a catalyst for the market to surpass the daily pivot at 1.6651 and to hit the resistance level at 1.6691. RSI supports this scenario.

 

USDCHF H4
Resistance 0.9103 0.9116 0.9139
Support 0.9068 0.9046 0.9033
Primary Scenario Having flirted with the previous top, the pair gained momentum and it is poised to jump higher. If the pair achieves to exceed the hurdle at 0.9103, the next resistance is seen at 0.9116 and 0.9139.
Alternative Scenario A reversal back of the rate, will lead USDCHF to find support at 0.9081 and even lower to 0.9068.

 

USDJPY H4
Resistance 103.21 103.59 104.03
Support 102.86 102.66 102.43
Primary Scenario USDJPY jumped higher at 103.21. If the pair manages to withhold the sellers’ pressure it will penetrate this level, targeting the barrier at 103.59 and 104.03. RSI oscillator is amounted at 76 and is trading within an overbought area.
Alternative Scenario A plunge of the market, shall push prices to find support at 102.86 (Tenkan-sen). The next support is estimated at the Kijun-sen line at 102.66.

 

AUDUSD H4
Resistance 0.9329 0.9356 0.9370
Support 0.9287 0.9273 0.9245
Primary Scenario AUDUSD turned back south, after the market violated the key support at the daily pivot (0.9315). Any decisive movement to breach the barrier at 0.9287, will lead the pair to extend its downtrend, towards the support at 0.9273 and further down to 0.9245.
Alternative Scenario A surge of AUDUSD will push the rate to retest the daily pivot at 0.9315 and then higher the hurdle at 0.9329.

 

 

Article by ForexTime

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