AUDUSD: Today’s surge push the market higher.

May 6, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1249 1.1314 1.1405
Support 1.1093 1.1001 1.0936
Primary Scenario EURUSD is now heading towards the barrier at 1.1249. If the pair manages to withhold the sellers’ pressure, it will exceed this level, with immediate target the resistance level at 1.1314.
Alternative Scenario Alternatively, a comeback of the market will push prices to find support at the daily pivot (1.1157).

 



GBPUSD H4
Resistance 1.5236 1.5291 1.5365
Support 1.5108 1.5034 1.4979
Primary Scenario The pair bounced up from the previous bottom and is now poised to retest the hurdle at 1.5236.  Should GBPUSD achieve to continue its rally, it will climb towards the next resistance at 1.5291 and even higher at 1.5365.
Alternative Scenario A plunge of the exchange rate would lead the pair to violate the daily pivot at 1.5162. The next support is seen at 1.5108.

 

 

USDCHF H4
Resistance 0.9370 0.9479 0.9545
Support 0.9196 0.9130 0.9022
Primary Scenario USDCHF breached the daily pivot point in the previous session. If the pair manages to extend its downtrend, it will target the forthcoming support levels at 0.9196 and 0.9130.
Alternative Scenario An upward wave would bring the market into a correction course, targeting the daily pivot (0.9304) and then higher at 0.9370.

USDJPY H4
Resistance 120.11 120.83 121.66
Support 119.72 119.31 118.97
Primary Scenario The bullish scenario is still in effect. A decisive thrust of the pair above the hurdle at 120.11 will lift USDJPY towards the resistance level at 120.83.
Alternative Scenario A slide of the market below the support level at 119.72 will open the way down to the upper level of the cloud at 119.31.

AUDUSD H4
Resistance 0.8001 0.8061 0.8167
Support 0.7834 0.7728 0.7667
Primary Scenario Today’s surge push the market to lead the way up to the resistance level at 0.8001. If the bullish momentum remains intact, the next resistance is seen at 0.8061 and further up at 0.8167.
Alternative Scenario A reversal back below the daily pivot point at 0.7894 will push prices to hit the support level at 0.7834.

 

 

Article by ForexTime

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