EURUSD is now testing the key support level at 1.1030.

March 5, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1154 1.1231 1.1278
Support 1.1030 1.0983 1.0906
Primary Scenario EURUSD is now testing the key support level at 1.1030. A break below this level will push prices to find support at 1.0983. Further drop of the market will lead the exchange rate lower towards the next target at 1.0906.
Alternative Scenario An upward wave would trigger the market to penetrate the daily pivot at 1.1107 and then higher at 1.1154. RSI oscillator supports this outlook.

 

GBPUSD H4
Resistance 1.5339 1.5415 1.5459
Support 1.5219 1.5175 1.5099
Primary Scenario The pair is heading towards the support level at 1.5219. A successful attempt to violate this level will open the way down to 1.5175.
Alternative Scenario A failed attempt to move lower will lead the market to a correction phase towards the daily pivot at 1.5295. RSI is trading at 24 within an oversold territory.

 

USDCHF H4
Resistance 0.9671 0.9715 0.9754
Support 0.9587 0.9548 0.9504
Primary Scenario USDCHF is negotiating near the hurdle at 0.9671. A fruitful movement upwards will lift the pair above this level, targeting the forthcoming resistance at 0.9715 and then higher at 0.9754.
Alternative Scenario A plunge of the pair below the daily pivot will push the pair to find support at 0.9587.

 

USDJPY H4
Resistance 119.89 120.25 120.47
Support 119.67 119.37 119.14
Primary Scenario USDJPY is now poised to retest the resistance level at 119.89. Should the pair achieve to penetrate this level, it will climb towards the next target at 120.25.
Alternative Scenario A setback of the market will lead the pair to hit the support at 119.67.

 

AUDUSD H4
Resistance 0.7851 0.7887 0.7916
Support 0.7786 0.7758 0.7722
Primary Scenario The pair is gyrating the daily pivot at 0.7823. A decisive movement to the south will push prices to reach the support at 0.7786. The next support is seen at 0.7758.
Alternative Scenario Alternatively, a higher thrust of AUDUSD will fuel the pair to exceed the daily pivot and even higher at 0.7851.

 

 

Article by ForexTime

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