USDCHF collapsed in the previous session.

December 4, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1105 1.1272 1.1565
Support 1.0645 1.0352 1.0185
Primary Scenario A great bullish momentum led EURUSD to eliminate the key resistance at 1.0645 and the daily pivot at 1.0812. For the moment the rate is trading at 1.0940 and if the pair achieves to extend its momentum, the next resistance is seen at 1.1105.
Alternative Scenario A reversal back of the market will bring the pair into a correction course, pushing the market to find support at the daily pivot. RSI oscillator supports this outlook.

GBPUSD H4
Resistance 1.5230 1.5321 1.5485
Support 1.4975 1.4811 1.4720
Primary Scenario The pair is negotiating above the daily pivot point (1.5066). If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 1.5230 and 1.5321.
Alternative Scenario On the other hand, a comeback of the exchange rate below the daily pivot will lead GBPUSD down to 1.4975.

USDCHF H4
Resistance 1.0167 1.0406 1.0553
Support 0.9781 0.9634 0.9395
Primary Scenario USDCHF collapsed in the previous session and managed to violate the support level at 1.0167 and the daily pivot at 1.0020. Further drop of the market will push prices to find support at 0.9781 and even lower at 0.9634.
Alternative Scenario An upward wave would trigger the market to exceed the daily pivot, with immediate target the resistance level at 1.0167. RSI oscillator is trading at 20, within an oversold territory.

USDJPY H4
Resistance 122.70 122.99 123.38
Support 122.47 122.25 121.99
Primary Scenario The pair is trading slightly above the lower level of the cloud. A decisive movement to the south will open the way down to 122.47 and further down to 122.25.
Alternative Scenario Alternatively, a higher thrust above the hurdle at 122.70 will lift USDJPY towards the resistance level at 122.99.

AUDUSD H4
Resistance 0.7372 0.7406 0.7451
Support 0.7292 0.7248 0.7213
Primary Scenario AUDUSD topped up at 0.7362, before retracing below the daily pivot at 0.7327. A tumble of the market below the level at 0.7292 will push the pair to find support at 0.7248.
Alternative Scenario. A surge of the market will lead the pair to penetrate the daily pivot. If that happens, the next resistance is seen at 0.7372.

 

Article by ForexTime

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