AUDUSD is now poised to penetrate the hurdle at 0.7269.

December 29, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0990 1.1014 1.1037
Support 1.0942 1.0919 1.0894
Primary Scenario EURUSD is revolving above the daily pivot at 1.0967. Should the pair manage to exceed the hurdle at 1.0990, it will climb towards the resistance level at 1.1014.
Alternative Scenario A reversal back below the daily pivot will open the way down to 1.0942.

GBPUSD H4
Resistance 1.4915 1.4954 1.4975
Support 1.4855 1.4834 1.4795
Primary Scenario The pair bottomed at 1.4873, before retracing above the daily pivot point (1.4894). If GBPUSD achieves to extend its bullish momentum, the next resistance is seen at 1.4915 and then higher at 1.4954.
Alternative Scenario Alternatively, a breach of the daily pivot will push prices to find support at 1.4855.

USDCHF H4
Resistance 0.9898 0.9922 0.9944
Support 0.9853 0.9831 0.9807
Primary Scenario USDCHF is gyrating the daily pivot (0.9877). A decisive movement to the north will trigger the market to hit the resistance at 0.9898 and further up to 0.9922.
Alternative Scenario A plunge of the market will lead the pair to violate the daily pivot, with immediate target the support level at 0.9853.

USDJPY H4
Resistance 120.40 120.64 121.13
Support 120.19 119.88 119.59
Primary Scenario The USDJPY pair is testing the key support level at 120.19. If the bears manage to take control of the bulls and break this level, it will target the forthcoming support level at 119.88 and even lower at 119.59.
Alternative Scenario On the other hand, an upward wave would eliminate the barrier at 120.40, targeting the resistance at 120.64. RSI supports this outlook.

AUDUSD H4
Resistance 0.7269 0.7293 0.7306
Support 0.7231 0.7219 0.7194
Primary Scenario AUDUSD is now poised to penetrate the hurdle at 0.7269. If that happens, the next resistance is estimated at 0.7293.
Alternative Scenario. A tumble of the market below the daily pivot (0.7256) will push the market to hit the support level at 0.7231.

 

Article by ForexTime

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