USDCHF set to penetrate the hurdle in line at 0.9623.

July 24, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1026 1.1070 1.1122
Support 1.0930 1.0878 1.0834
Primary Scenario EURUSD topped up at 1.1026, before closing below the daily pivot at 1.0974. Any aggressive movement to the south will lead the pair to find support at 1.0930 and then lower at 1.0878.
Alternative Scenario A higher thrust of the exchange rate will lift the market above the daily pivot towards the hurdle at 1.1026.

 

 

GBPUSD H4
Resistance 1.5620 1.5729 1.5790
Support 1.5451 1.5391 1.5281
Primary Scenario The pair has finally managed to violate the daily pivot point (1.5560). A persistent trading below this level will most likely put more pressure for GBPUSD, opening the path for lower levels down to 1.5451 and even lower at 1.5391.
Alternative Scenario Alternatively, an upward wave would trigger the market to exceed the daily pivot, with immediate target the resistance at 1.5620.

 

 

USDCHF H4
Resistance 0.9623 0.9650 0.9700
Support 0.9546 0.9497 0.9469
Primary Scenario USDCHF set to penetrate the hurdle in line at 0.9623. If that happens, the next resistance is seen at 0.9650. Further increase of the market will see the pair in higher levels, approaching the resistance at 0.9700.
Alternative Scenario A comeback of the currency pair will lead the market to retest the daily pivot (0.9574) and further down the support level at 0.9546.

 

 

USDJPY H4
Resistance 124.03 124.47 125.06
Support 123.80 123.56 123.04
Primary Scenario The pair is still searching for direction, while trading above the Kumo. A decisive movement upwards will generate strength for USDJPY to surpass the barrier at 124.03, targeting the forthcoming resistance level at 124.47.
Alternative Scenario A plunge of the currency pair will push prices to breach the upper level of the cloud at 123.80, entering within the Kumo. The next support is seen at 123.56.

AUDUSD H4
Resistance 0.7394 0.7438 0.7460
Support 0.7328 0.7306 0.7262
Primary Scenario AUDUSD cleared the given support levels and proceed into a multi-year low. A drop of the market will push the pair to find support at the final level at 0.7262.
Alternative Scenario A surge of the pair will bring the market into a correction course towards the resistance levels at 0.7306 and further up to 0.7328.

 

Article by ForexTime

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