USDCHF: Set to penetrate the barrier at 0.9703.

March 31, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0881 1.0930 1.0966
Support 1.0796 1.0760 1.0711
Primary Scenario EURUSD has just violated the critical level at 1.0796 and is poised to reach the forthcoming support at 1.0760. The next support level is seen at 1.0711.
Alternative Scenario Alternatively, a surge of the market above the daily pivot will lead the market towards the resistance level at 1.0881.

 

 

GBPUSD H4
Resistance 1.4888 1.4968 1.5036
Support 1.4741 1.4673 1.4593
Primary Scenario The pair is now testing the key support level at 1.4741. Should GBPUSD manage to breach this level, it will target the next support levels at 1.4673 and even lower at 1.4593.
Alternative Scenario An upward wave would lead the exchange rate to exceed the daily pivot (1.4820) and to retest the hurdle at 1.4888.

USDCHF H4
Resistance 0.9703 0.9738 0.9788
Support 0.9618 0.9568 0.9533
Primary Scenario USDCHF is set to penetrate the barrier at 0.9703. If the bulls’ pressure achieve to overweigh the bears’ pressure, it will climb towards the next resistance at 0.9738 and then higher at 0.9788.
Alternative Scenario A reversal back below the daily pivot point at 0.9653 will push prices to find support at 0.9618.

 

USDJPY H4
Resistance 120.39 120.95 121.51
Support 119.90 119.14 118.32
Primary Scenario The USDJPY pair has entered the cloud in the previous session. Any decisive movement to surpass the upper level of the Kumo (120.39) will trigger the market to target the resistance levels at 120.95 and 121.51 respectively.
Alternative Scenario A fruitless attempt to move higher will push the currency pair to breach the support at 119.90, opening the way down to 119.14.

 

AUDUSD H4
Resistance 0.7721 0.7790 0.7835
Support 0.7607 0.7563 0.7493
Primary Scenario AUDUSD is following a downtrend. If the pair manages to extend its momentum, it will drop further towards the support levels at 0.7563 and 0.7493.
Alternative Scenario A higher thrust of the market will generate strength for the rate to penetrate the daily pivot at 0.7676 and then higher at 0.7721. RSI oscillator supports this outlook.

 

 

Article by ForexTime

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