AUDUSD is revolving the daily pivot.

April 23, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0780 1.0836 1.0872
Support 1.0688 1.0652 1.0596
Primary Scenario EURUSD edged up at 1.0800, before closing below the daily pivot at 1.0744. A decisive movement to the south will push prices to breach the barrier at 1.0688, targeting the forthcoming support level at 1.0652.
Alternative Scenario If the pair achieves to exceed the daily pivot, it will retest the hurdle at 1.0780.

 



GBPUSD H4
Resistance 1.5105 1.5175 1.5271
Support 1.4938 1.4842 1.4772
Primary Scenario The pair has experienced strong resistance above the daily pivot point at 1.5009. If the bulls manage to take control of the bears and penetrate the obstacle at 1.5105, the next resistance is seen at 1.5175.
Alternative Scenario A comeback of the market below the daily pivot will lead the exchange rate down to 1.4938.

 

USDCHF H4
Resistance 0.9785 0.9857 0.9998
Support 0.9571 0.9430 0.9358
Primary Scenario USDCHF turned sharply bullish in the previous session. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 0.9785 and 0.9857.
Alternative Scenario A reversal back below the daily pivot (0.9643) will push the market to find support at 0.9571.

 

USDJPY H4
Resistance 119.81 120.26 120.84
Support 119.46 119.04 118.52
Primary Scenario The pair topped up at 120.08, before entering back within the Kumo. Any forceful movement to the north to break the upper level of the cloud (119.81) will trigger the rate to target the resistance level at 120.26 and even higher at 120.84.
Alternative Scenario A fruitless attempt to exceed the cloud, will lead the market lower down to 119.46 and 119.04.

AUDUSD H4
Resistance 0.7804 0.7856 0.7906
Support 0.7703 0.7653 0.7602
Primary Scenario AUDUSD is revolving the daily pivot (0.7755). An upward wave would generate strength for the market to retest the hurdle in line at 0.7804. A successful penetration of this level will lift the market higher towards the nest resistance level at 0.7856.
Alternative Scenario On the other hand, a plunge of the market below the daily pivot point will see the exchange rate down to 0.7703.

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Article by ForexTime

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