AUDUSD: Strong bullish momentum.

May 5, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1205 1.1265 1.1307
Support 1.1104 1.1062 1.1002
Primary Scenario EURUSD is currently trading below the daily pivot at 1.1164. If the pair manages to extend its momentum, it will violate the support level at 1.1104, targeting the forthcoming level at 1.1062 and then lower at 1.1002.
Alternative Scenario A surge of the market above the daily pivot point will lift the exchange rate towards the resistance level at 1.1205.

 



GBPUSD H4
Resistance 1.5166 1.5213 1.5251
Support 1.5081 1.5043 1.4996
Primary Scenario The pair is hovering the daily pivot point (1.5128). Any decisive movement to the south will trigger GBPUSD to retest the key support at 1.5081. A drop of the market below this level will most likely push prices to find support at 1.5043.
Alternative Scenario An upward wave would lead the currency pair to exceed the daily pivot, with immediate target the resistance at 1.5166.

 

 

USDCHF H4
Resistance 0.9374 0.9414 0.9444
Support 0.9304 0.9273 0.9233
Primary Scenario USDCHF is revolving the daily pivot at 0.9343. An upside momentum would generate strength for the pair to retest and penetrate the hurdle at 0.9374. The next resistance is seen at 0.9414.
Alternative Scenario A comeback of the market will open the way down to 0.9304.

USDJPY H4
Resistance 120.28 120.83 121.66
Support 119.98 119.67 119.31
Primary Scenario USDJPY is still negotiating near the previous high. If the bulls manage to take control of the bears, the pair will attempt to surpass the barrier at 120.28. The next resistance is estimated at 120.83.
Alternative Scenario A reversal back below the support level at 119.98 will lead the rate lower down to 119.67.

AUDUSD H4
Resistance 0.7856 0.7878 0.7905
Support 0.7807 0.7780 0.7758
Primary Scenario A strong bullish momentum led AUDUSD to clear all the levels up to the resistance level at 0.7905. A successful attempt to penetrate this level will fuel the pair further towards the Fibonacci resistance level 261.8% at 0.7951.
Alternative Scenario On the other hand, a failed attempt to move higher will put pressure to the market to find support at 0.7878.

 

 

Article by ForexTime

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