EURUSD has reached fresh lows.

March 12, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0670 1.0795 1.0875
Support 1.0464 1.0384 1.0258
Primary Scenario EURUSD has reached fresh lows in the previous candlestick, indicating bearish sentiment. If the pair manages to extend its downtrend, it will target the support levels at 1.0464 and 1.0384.
Alternative Scenario On the other hand, a higher thrust of the market will lift the pair to penetrate the daily pivot (1.0590) and further up at 1.0670. RSI oscillator supports a correction course.

 

GBPUSD H4
Resistance 1.5051 1.5175 1.5254
Support 1.4848 1.4769 1.4645
Primary Scenario The pair tumbled yesterday down to 1.4892. Any decisive movement to the south will push prices to hit the support level at 1.4848 and even lower at 1.4769.
Alternative Scenario Should GBPUSD achieve to exceed the daily pivot point at 1.4972, the next resistance is seen at 1.5051.

 

USDCHF H4
Resistance 1.0140 1.0193 1.0278
Support 1.0002 0.9916 0.9863
Primary Scenario USDCHF is trading near the previous top (1.0127). A successful attempt to move higher will fuel the pair to breach the hurdle at 1.0140 and further up towards the resistance level at 1.0193.
Alternative Scenario A comeback of the market will lead the pair to find support at the daily pivot (1.0054).

 

USDJPY H4
Resistance 121.66 122.02 122.82
Support 121.24 120.94 120.45
Primary Scenario The pair is still searching for direction. Any forceful movement to the north will most likely trigger the market to retest the barrier at 121.66 and then higher at 122.02.
Alternative Scenario Alternatively, if USDJPY fall below the support level at 121.24, the next target is estimated at 120.94.

 

AUDUSD H4
Resistance 0.7635 0.7681 0.7719
Support 0.7551 0.7513 0.7467
Primary Scenario AUDUSD is heading towards the resistance level at 0.7635. A successful surpass above this level will generate strength for the market to target the forthcoming resistance at 0.7681 and then higher at 0.7719.
Alternative Scenario A setback of the exchange rate will lead the market to violate the daily pivot at 0.7597. If that happens, it will open the way down to 0.7551.

 

 

Article by ForexTime

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