AUDUSD experienced strong resistance at 0.7648.

April 1, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0812 1.0894 1.0943
Support 1.0681 1.0631 1.0550
Primary Scenario EURUSD has bottomed at 1.0713, before retracing above the daily pivot point at 1.0762. Further correction of the market will most likely lead the exchange rate towards the resistance level at 1.0812 and even higher at 1.0894.
Alternative Scenario On the other hand, a plunge of the pair below the daily pivot will push prices towards the support level at 1.0681.

 

 

GBPUSD H4
Resistance 1.4872 1.4930 1.4989
Support 1.4756 1.4696 1.4639
Primary Scenario The pair is trading slightly below the key support at 1.4872. A successful attempt to penetrate this level will generate strength for GBPUSD to target the resistance levels at 1.4930 and 1.4989.
Alternative Scenario Should the pair manage to breach the daily pivot point, it will drop further towards the support level at 1.4756.

USDCHF H4
Resistance 0.9767 0.9811 0.9866
Support 0.9667 0.9612 0.9568
Primary Scenario USDCHF topped up at 0.9755, before closing below the daily pivot at 0.9711. If the pair achieves to violate the support level at 0.9667, it will open the way down to 0.9612.
Alternative Scenario A higher thrust of the market will lift the pair above the daily pivot, to retest the hurdle at 0.9767.

 

USDJPY H4
Resistance 120.12 120.39 120.95
Support 119.40 118.92 118.32
Primary Scenario The pair is negotiating within the Kumo. A downward wave would push USDJPY to exit the cloud and test the support level at 119.40. The next support level is seen at 118.92.
Alternative Scenario A fruitful attempt to surpass the resistance level at 120.12 will lead the market to eye the upper level of the cloud at 120.39.

 

AUDUSD H4
Resistance 0.7648 0.7692 0.7722
Support 0.7575 0.7546 0.7502
Primary Scenario AUDUSD experienced strong resistance at 0.7648. If the pair manages to exceed this level, it will fuel prices further towards the next resistances at 0.7692 and 0.7722.
Alternative Scenario Alternatively, a drop of the currency pair below the daily pivot (0.7619) will lead the market underway down to 0.7575.

 

 

Article by ForexTime

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