EURUSD edged up at 1.1027, before closing below the daily pivot.

March 25, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1000 1.1082 1.1137
Support 1.0862 1.0807 1.0725
Primary Scenario EURUSD edged up at 1.1027, before closing below the daily pivot (1.0945). Further drop of the market will push the pair in deeper correction towards the support level at 1.0862 and 1.0807.
Alternative Scenario An upward wave would lead the exchange rate to penetrate the daily pivot, targeting the resistance level at 1.1000.

 

 

GBPUSD H4
Resistance 1.4937 1.5030 1.5078
Support 1.4796 1.4748 1.4655
Primary Scenario The pair is negotiating slightly below the daily pivot at 1.4889. Any decisive movement to the south will open the way down to retest the support level at 1.4796 and even lower at 1.4748.
Alternative Scenario Alternatively, a successful surpass of the daily pivot point will lift GBPUSD towards the hurdle at 1.4937.

USDCHF H4
Resistance 0.9672 0.9761 0.9830
Support 0.9514 0.9446 0.9356
Primary Scenario USDCHF has reached fresh lows. If the pair manages to extend its downtrend, it will target the support levels at 0.9514 and then lower at 0.9446.
Alternative Scenario Should the market achieve to exceed the daily pivot (0.9604), the next resistance is seen at 0.9672. RSI supports this outlook.

 

USDJPY H4
Resistance 119.97 120.38 120.94
Support 119.55 119.21 118.70
Primary Scenario The negative momentum of the pair faded and USDJPY has been overall moving in a range. A plunge of the market below the barrier at 119.55 will lead the market to face the forthcoming support level at 119.21.
Alternative Scenario On the other hand, a surge of the market will fuel the pair to penetrate the resistance at 119.97, finding resistance higher at the cloud at 120.38.

 

AUDUSD H4
Resistance 0.7928 0.7982 0.8027
Support 0.7828 0.7783 0.7728
Primary Scenario AUDUSD is hovering below the daily pivot point at 0.7882. Any forceful downward movement will push prices to find support at 0.7828 and further down to 0.7783.
Alternative Scenario A higher thrust of the currency pair will trigger the market to exceed the daily pivot with immediate target the resistance at 0.7928.

 

 

Article by ForexTime

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