Today’s surge push AUDUSD to clear key resistance levels.

January 28, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1460 1.1540 1.1658
Support 1.1261 1.1142 1.1062
Primary Scenario The pair is still trading above the daily pivot (1.1341). A decisive movement upwards will fuel the market further towards the resistance level at 1.1460 and then higher at 1.1540.
Alternative Scenario Should EURUSD manage to breach the daily pivot, it will retest the support at 1.1261.

 

GBPUSD H4
Resistance 1.5258 1.5322 1.5422
Support 1.5095 1.4995 1.4932
Primary Scenario GBPUSD negotiates slightly above the daily pivot at 1.5159. If the pair manages to withstand the sellers’ pressure, it will target the resistance levels at 1.5258 and 1.5322.
Alternative Scenario A plunge of the exchange rate below the daily pivot, will push prices to find support at 1.5095.

 

USDCHF H4
Resistance 0.9147 0.9271 0.9377
Support 0.8916 0.8810 0.8685
Primary Scenario The USDCHF pair is trading near the previous high. A successful attempt to retest the hurdle at 0.9147, will generate strength for the market to penetrate this level, with immediate target the forthcoming resistance at 0.9271.
Alternative Scenario A comeback of the market below the daily pivot (0.9040), will lead the pair to find support at 0.8916.

 

USDJPY H4
Resistance 118.26 118.64 119.22
Support 117.99 117.67 117.32
Primary Scenario The trend has been overall neutral, but the bullish outlook is still in force. An upward momentum would push the market to exceed the barrier at 118.26. The next resistance is seen at 118.64.
Alternative Scenario Further drop of USDJPY will open the way down to 117.67 and then lower at 117.67.

 

AUDUSD H4
Resistance 0.7970 0.8007 0.8040
Support 0.7901 0.7868 0.7832
Primary Scenario Today’s surge push AUDUSD to clear the resistance levels at 0.7970 and 0.8007. The pair is now heading towards the resistance at 0.8040.
Alternative Scenario A setback of the market will lead the currency pair to violate the support at 0.8007. The next support is estimated at 0.7970.

 

 

Article by ForexTime

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