AUDUSD edged up at 0.7243.

October 8, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1276 1.1316 1.1348
Support 1.1203 1.1171 1.1131
Primary Scenario EURUSD is revolving the daily pivot point (1.1243). Any forceful movement to the north will fuel the pair to surpass the critical resistance at 1.1276, targeting the forthcoming level at 1.1316.
Alternative Scenario Alternatively, should the pair manage to violate the daily pivot, it will open the way down to 1.1203.

 

 

GBPUSD H4
Resistance 1.5364 1.5412 1.5486
Support 1.5242 1.5169 1.5121
Primary Scenario The pair has finally achieved to penetrate the daily pivot point at 1.5290. If GBPUSD manages to withhold the sellers’ pressure, it will climb towards the resistance level at 1.5364 and even higher at 1.5412.
Alternative Scenario On the other hand, a reversal back below the daily pivot would push prices down to 1.5242.

 

 

USDCHF H4
Resistance 0.9766 0.9798 0.9858
Support 0.9675 0.9615 0.9583
Primary Scenario USDCHF surged above the daily pivot (0.9707). Further increase of the exchange rate will lead the pair to target the resistance levels at 0.9766 and 0.9798.
Alternative Scenario A break back below the support level will push the pair to find support at 0.9675.

 

 

USDJPY H4
Resistance 119.94 120.22 120.55
Support 119.81 119.61 119.17
Primary Scenario The is now testing the key support level at 119.81. If the bears take control of the bulls, the currency pair will pave the path down to 119.61 and then lower at 119.17.
Alternative Scenario An upward wave would lift the market within the cloud towards the hurdle at 120.22

AUDUSD H4
Resistance 0.7243 0.7281 0.7328
Support 0.7158 0.7115 0.7073
Primary Scenario AUDUSD edged up at 0.7243, before retracing below the daily pivot at 0.7196. A deeper correction of the market will lead the pair to breach the support at 0.7158, pushing the rate underway towards the support level at 0.7115.
Alternative Scenario. A successful attempt to exceed the daily pivot will trigger the market to retest the hurdle at 0.7243.

 

 

Article by ForexTime

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