AUDUSD is oscillating around the daily pivot.

October 20, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1368 1.1410 1.1441
Support 1.1295 1.1263 1.1221
Primary Scenario EURUSD is trading slightly below the daily pivot point at 1.1336. A decisive movement downwards will push the pair to find support at 1.1295 and then lower at 1.1263.
Alternative Scenario A surge of the market above the daily pivot will lift the exchange rate towards the resistance at 1.1368.

 

 

GBPUSD H4
Resistance 1.5496 1.5531 1.5566
Support 1.5427 1.5392 1.5358
Primary Scenario The pair is now poised to penetrate the hurdle at 1.5496. If that happens, the next resistance is seen at 1.5531 and further up to 1.5566.
Alternative Scenario Alternatively, a comeback of GBPUSD will lead the rate below the daily pivot, opening the way down to 1.5427.

 

 

USDCHF H4
Resistance 0.9585 0.9610 0.9642
Support 0.9528 0.9495 0.9471
Primary Scenario USDCHF has finally managed to exceed the daily pivot (0.9552). If the pair manages to extend its momentum, it will climb towards the resistance levels at 0.9585 and 0.9610.
Alternative Scenario A break back below the daily pivot will push prices to retest the support level at 0.9528.

 

 

USDJPY H4
Resistance 119.61 119.96 120.33
Support 119.35 118.90 118.05
Primary Scenario The pair is still trading narrowly below the lower level of the cloud (119.61). A failed attempt to surpass this level will lead USDJPY to breach the Tenkan-sen line (119.35), paving the path lower down to 118.90.
Alternative Scenario On the other hand, a higher thrust of the pair will eliminate the hurdle at 119.61, targeting the next resistance level at 119.96.

AUDUSD H4
Resistance 0.7289 0.7332 0.7357
Support 0.7221 0.7195 0.7152
Primary Scenario AUDUSD is oscillating around the daily pivot at 0.7263. An upward wave would trigger the market to exceed the obstacle at 0.7289, with immediate target the resistance at 0.7332.
Alternative Scenario. Should the pair achieve to violate the daily pivot, the next support is seen at 0.7221.

 

 

Article by ForexTime

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