AUDUSD is still negotiating near the previous high.

December 3, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0647 1.0684 1.0733
Support 1.0561 1.0512 1.0475
Primary Scenario EURUSD oscillating around the daily pivot point at 1.0598. A decisive movement to the south will eliminate the support at 1.0561, opening the way underway towards the next target at 1.0512.
Alternative Scenario A higher thrust of the market above the daily pivot will lead the pair to retest the hurdle at 1.0647.

GBPUSD H4
Resistance 1.5055 1.5162 1.5242
Support 1.4867 1.4786 1.4679
Primary Scenario The pair is is following a downtrend. If GBPUSD achieves to extend its momentum, the next support is seen at 1.4867 and even lower at 1.4786.
Alternative Scenario Alternatively, an upward wave would fuel the pair above the daily pivot (1.4974), with immediate target the resistance at 1.5055. RSI supports this scenario.

USDCHF H4
Resistance 1.0264 1.0349 1.0392
Support 1.0135 1.0092 1.0006
Primary Scenario USDCHF has finally managed to violate the daily pivot (1.0221). Further drop of the market will push prices to find support at 1.0135 and further down to 1.0092.
Alternative Scenario A comeback of the currency pair will lead the market to exceed the daily pivot, targeting the resistance level at 1.0264.

USDJPY H4
Resistance 123.45 123.73 124.17
Support 123.24 122.99 122.73
Primary Scenario The USDJPY pair is now poised to penetrate the hurdle at 123.45. If that happens, the next resistance is estimated at 123.73 and even higher at 124.17.
Alternative Scenario On the other hand, a reversal back below the level at 123.24 will push the pair to find support at the upper level of the Kumo at 122.99.

AUDUSD H4
Resistance 0.7335 0.7363 0.7385
Support 0.7285 0.7263 0.7235
Primary Scenario AUDUSD is still negotiating near the previous high, but slightly below the daily pivot (0.7313). If the bears manage to take control of the bulls, the rate will retest the support level at 0.7285 and then lower at 0.7263.
Alternative Scenario. An upside momentum will trigger the market to surpass the daily pivot, paving the path towards the resistance at 0.7335.

 

Article by ForexTime

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