AUDUSD: Still under pressure.

January 11, 2016

Article by ForexTime

EURUSD H4
Resistance 1.0968 1.1015 1.1098
Support 1.0838 1.0755 1.0709
Primary Scenario EURUSD has tested the hurdle in line at 1.0968. If the pair manages to extend its rally, it will most likely eliminate this level, with immediate target the resistance level at 1.1015.
Alternative Scenario A comeback of the exchange rate will push prices to find support at the daily pivot (1.0885) and then lower at 1.0838.

GBPUSD H4
Resistance 1.4600 1.4692 1.4739
Support 1.4462 1.4414 1.4323
Primary Scenario The pair is following a downtrend. A decisive movement to the south will trigger the market to hit the support level at 1.4462 and further down to 1.4414.
Alternative Scenario Alternatively, a higher thrust of GBPUSD above the daily pivot at 1.4553 will lift the market towards the resistance at 1.4600.

USDCHF H4
Resistance 1.0018 1.0095 1.0140
Support 0.9896 0.9852 0.9775
Primary Scenario USDCHF is oscillating around the daily pivot point at 0.9974. Should the pair achieve to cross the key support at 0.9896, it will open the way down to 0.9852 and even lower at 0.9775.
Alternative Scenario An upward wave will lead the pair to exceed the daily pivot, targeting the resistance at 1.0018.

USDJPY H4
Resistance 117.44 117.85 118.34
Support 117.14 116.67 116.16
Primary Scenario The bearish outlook is still in force. If the bears manage to take control of the bulls, USDJPY will breach the barrier at 117.14, paving the path down to 116.67 and 116.16.
Alternative Scenario On the other hand, a successful penetration of the hurdle at 117.44 will fuel the pair further towards 117.85.

AUDUSD H4
Resistance 0.7033 0.7116 0.7158
Support 0.6907 0.6866 0.6782
Primary Scenario AUDUSD is still under pressure. If the pair manages to extend its bearish momentum, it will target the support level at 0.6907 and then lower at 0.6866.
Alternative Scenario. A surge of the currency pair above the daily pivot will push the market to hit the resistance at 0.7033.

 

Article by ForexTime

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