USDCHF recovered from its correction phase.

March 13, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0706 1.0789 1.0895
Support 1.0517 1.0411 1.0328
Primary Scenario EURUSD is trading slightly below the daily pivot point at 1.0600. A decisive movement downwards will open the way down to 1.0517 and then lower at 1.0411.
Alternative Scenario An upward wave would lead the pair above the daily pivot and the resistance level at 1.0706.

 

GBPUSD H4
Resistance 1.4990 1.5095 1.5166
Support 1.4814 1.4743 1.4638
Primary Scenario The pair is trading near the previous low. Any purposeful movement to the south will push prices to find support at 1.4814 and even lower at 1.4743.
Alternative Scenario A reversal back of the market will lift the pair to hit the daily pivot at 1.4919. RSI supports this outlook.

 

USDCHF H4
Resistance 1.0109 1.0191 1.0255
Support 0.9964 0.9899 0.9818
Primary Scenario USDCHF recovered from its correction phase and it is now negotiating above the daily pivot (1.0045). If the pair achieves to extend its uptrend it will target the forthcoming resistances at 1.0109 and 1.0191.
Alternative Scenario Should the pair manage to breach the daily pivot, the next support is seen at 0.9964.

 

USDJPY H4
Resistance 121.66 122.02 122.82
Support 121.27 120.94 120.45
Primary Scenario The pair has been trapped between the resistance level at 121.66 and the support level at 121.27. Any forceful movement to the north will trigger the market to penetrate the hurdle at 121.66, with immediate target the next resistance at 122.02.
Alternative Scenario A plunge of the market below the barrier at 121.27 will push prices to reach the support level at 120.94.

 

AUDUSD H4
Resistance 0.7761 0.7822 0.7917
Support 0.7606 0.7512 0.7451
Primary Scenario AUDUSD bounced up from the previous bottom and it is now trading above the daily pivot at 0.7667. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance level at 0.7761 and further up at 0.7822.
Alternative Scenario Alternatively, a setback of the exchange rate will lead the market below the daily pivot, with immediate target the support level at 0.7606.

 

 

Article by ForexTime

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