EURUSD pounded in today’s session.

December 17, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0984 1.1059 1.1107
Support 1.0860 1.0812 1.0737
Primary Scenario EURUSD pounded in today’s session. A persistent trading below the now-resistance level at 1.0860 will push the pair to find support at 1.0812 and then lower at 1.0737.
Alternative Scenario A higher thrust of the market will lift the exchange rate above the daily pivot, with immediate target the resistance at 1.0984.

GBPUSD H4
Resistance 1.5077 1.5156 1.5216
Support 1.4939 1.4879 1.4800
Primary Scenario The pair is now testing the support level at 1.4939. If GBPUSD achieves to violate this level, the next support is seen at 1.4879 and then lower at 1.4800.
Alternative Scenario Alternatively, an upward wave would trigger the market above the daily pivot, targeting the resistance at 1.5077. RSI supports this outlook.

USDCHF H4
Resistance 0.9940 0.9985 1.0050
Support 0.9830 0.9765 0.9721
Primary Scenario USDCHF has finally surpassed the key resistance at 0.9940. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance level at 0.9985 and further up to 1.0050.
Alternative Scenario A reversal back below the support at 0.9940 will push the rate to find support at the daily pivot point (0.9875).

USDJPY H4
Resistance 122.64 123.11 123.55
Support 122.34 121.94 121.37
Primary Scenario The pair is now trading with bullish sentiment. A bounce up from current levels will generate strength for the market to penetrate the hurdle at 122.64. The next resistance is estimated at 123.11.
Alternative Scenario On the other hand, a break back below the upper level of the cloud (122.34) will pave the path down to 121.94.

AUDUSD H4
Resistance 0.7278 0.7330 0.7381
Support 0.7175 0.7124 0.7072
Primary Scenario AUDUSD tumbled below the important support level at 0.7175. A sustained trading below this level will open the way down to 0.7124 and even lower to 0.7072.
Alternative Scenario. A surge of the market above the resistance at 0.7175 will fuel the pair to hit the daily pivot at 0.7227.

 

Article by ForexTime

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