AUDUSD is still under bears’ pressure.

January 5, 2016

Article by ForexTime

EURUSD H4
Resistance 1.0921 1.1016 1.1086
Support 1.0756 1.0685 1.0591
Primary Scenario EURUSD has finally breached the daily pivot at 1.0850. A persistent trading below this level will push prices to find support at 1.0756 and further down to 1.0685.
Alternative Scenario Alternatively, should the pair manage to surpass the daily pivot, it will target the resistance at 1.0921.

GBPUSD H4
Resistance 1.4796 1.4882 1.4949
Support 1.4644 1.4576 1.4491
Primary Scenario The pair has experienced strong resistance below the daily pivot (1.4729). A decisive movement to the south will lead GBPUSD to retest the support level at 1.4644 and even lower at 1.4576.
Alternative Scenario An upward wave would fuel the pair above the daily pivot, targeting the resistance at 1.4796.

USDCHF H4
Resistance 1.0076 1.0138 1.0215
Support 0.9937 0.9860 0.9798
Primary Scenario USDCHF achieved to penetrate the critical barrier at 0.9999 (daily pivot). If the pair manages to withhold the sellers’ pressure, it will climb towards the forthcoming resistance levels at 1.0076 and 1.0138.
Alternative Scenario A reversal back below the daily pivot will push the exchange rate to find support at 0.9937.

USDJPY H4
Resistance 119.69 120.04 120.64
Support 119.09 118.70 118.06
Primary Scenario The bearish scenario is still in effect. A break back below the support at 119.09 will open the way down to 118.70 and then lower at 118.06.
Alternative Scenario On the other hand, a surge of USDJPY will lift the currency pair to hit the resistance levels at 119.69 and 120.04.

AUDUSD H4
Resistance 0.7271 0.7357 0.7415
Support 0.7126 0.7068 0.6982
Primary Scenario AUDUSD is still under bears’ pressure. If the pair manages to extend its momentum, it will eliminate the support at 0.7126, paving the path down to 0.7068.
Alternative Scenario. A higher thrust of the pair will trigger the market to penetrate the daily pivot (0.7213), with immediate target the resistance at 0.7271.

 

Article by ForexTime

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