EURUSD slumped in today’s session.

October 23, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1272 1.1436 1.1523
Support 1.1021 1.0935 1.0770
Primary Scenario EURUSD slumped in today’s session. If the pair manages to extend its downtrend, the next support is seen at 1.1021 and then lower at 1.0935.
Alternative Scenario A correction course of the currency pair will lift the market towards the daily pivot point at 1.1186 and even higher to 1.1272. RSI oscillator supports this outlook.

 

 

GBPUSD H4
Resistance 1.5475 1.5559 1.5613
Support 1.5337 1.5284 1.5199
Primary Scenario The pair is gyrating the daily pivot at 1.5421. A decisive movement to the south will push GBPUSD to target the support level at 1.5337 and further down to 1.5284.
Alternative Scenario On the other hand, a successful penetration of the daily pivot point will fuel the pair further towards the resistance at 1.5475.

 

 

USDCHF H4
Resistance 0.9784 0.9840 0.9943
Support 0.9625 0.9523 0.9467
Primary Scenario USDCHF surged into a fresh top. If the pair manages to withhold the sellers’ pressure, the exchange rate will climb towards the resistance level at 0.9784 and then higher at 0.9840.
Alternative Scenario A reversal back would push prices to find support at the daily pivot point at 0.9681. RSI is trading within the overbought territory.

 

 

USDJPY H4
Resistance 120.99 121.30 121.73
Support 120.54 120.28 120.04
Primary Scenario The pair is negotiating with bullish implications. Should USDJPY achieve to exceed the hurdle at 120.99, the next resistance is estimated at 121.30.
Alternative Scenario Alternatively, a break back below the barrier at 120.54 would lead the currency pair down to the support level at 120.28.

AUDUSD H4
Resistance 0.7234 0.7265 0.7292
Support 0.7177 0.7151 0.7120
Primary Scenario AUDUSD has cleared the hurdle in line at 0.7234. Any forceful attempt to surpass the forthcoming resistance at 0.7265 will trigger the market to hit higher the next target at 0.7292.
Alternative Scenario. A plunge of the market below the daily pivot (0.7208) will open the way down to 0.7177.

 

 

Article by ForexTime

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