AUDUSD bounced up from the previous bottom at 0.7065

August 28, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1334 1.1429 1.1495
Support 1.1173 1.1107 1.1012
Primary Scenario EURUSD is hovering below the daily pivot point at 1.1268. A plunge of the pair will lead the exchange rate to test the support level at 1.1173 and even lower at 1.1107.
Alternative Scenario A higher thrust of the market will lift the currency pair above the daily pivot, with immediate target the resistance at 1.1334.

 

 

GBPUSD H4
Resistance 1.5483 1.5565 1.5622
Support 1.5344 1.5287 1.5205
Primary Scenario The pair has finally managed to surpass the daily pivot point (1.5426). Further correction of GBPUSD will trigger the market to climb towards the resistance level at 1.5483 and then higher at 1.5565.
Alternative Scenario A comeback of the market will push prices below the daily pivot, opening the way down to 1.5344.

 

 

USDCHF H4
Resistance 0.9717 0.9774 0.9877
Support 0.9557 0.9454 0.9397
Primary Scenario USDCHF turned sharply bullish and penetrated the daily pivot at 0.9614. If the pair manages to extend its uptrend, the next resistance is seen at 0.9717 and further up to 0.9774.
Alternative Scenario Alternatively, a break back below the daily pivot will lead the pair underway towards the support level at 0.9557.

 

 

USDJPY H4
Resistance 121.38 122.02 122.67
Support 120.60 119.79 118.88
Primary Scenario The pair is still trading below the Kumo. A decisive movement to the south will push USDJPY below the Tenkan-sen line (120.60), targeting the forthcoming support level at 119.79.
Alternative Scenario An upward wave would fuel the pair to exceed the hurdle in line at 121.38. The next resistance is estimated at 122.02.

AUDUSD H4
Resistance 0.7196 0.7229 0.7279
Support 0.7114 0.7065 0.7032
Primary Scenario AUDUSD bounced up from the previous bottom at 0.7065 and reached the resistance level at 0.7196. If the pair manages to withstand the sellers’ pressure, the market will attempt to penetrate the level at 0.7196, with immediate target the level at 0.7229.
Alternative Scenario. Should the pair achieve to breach the daily pivot, it will find support at 0.7114.

 

 

Article by ForexTime

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