AUDUSD has experienced strong resistance above the daily pivot zone.

March 31, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1373 1.1410 1.1455
Support 1.1290 1.1245 1.1208
Primary Scenario EURUSD edged up at 1.1364, before retracing below the daily pivot (1.1327). Supported by the RSI oscillator, which is trading in the overbought area, a deeper correction is most likely, with immediate target the support level at 1.1290 and further down to 1.1245.
Alternative Scenario An upward wave would lift the exchange rate above the daily pivot and the pair will retest the hurdle at 1.1373.

GBPUSD H4
Resistance 1.4436 1.4496 1.4534
Support 1.4338 1.4299 1.4239
Primary Scenario The pair is now testing the support level at 1.4338. A break back below this level will open the way down to 1.4299 and even lower at 1.4239.
Alternative Scenario On the other hand, a higher thrust of the market will fuel the pair towards the daily pivot point at 1.4398.

USDCHF H4
Resistance 0.9680 0.9713 0.9758
Support 0.9603 0.9558 0.9525
Primary Scenario USDCHF is now poised to retest the hurdle in line at 0.9680. If that happens, the next resistance is seen at 0.9713 and then higher at 0.9758.
Alternative Scenario A plunge of the market below the daily pivot at 0.9636 will push prices to find support at 0.9603.

USDJPY H4
Resistance 112.37 112.88 113.47
Support 112.13 111.54 111.04
Primary Scenario The pair is trading slightly below the cloud. A decisive movement to the south will lead the pair to eliminate the barrier at 112.13, targeting the forthcoming level at 111.54.
Alternative Scenario Alternatively, a successful attempt to surpass the hurdle at 112.37 will lead the market to enter within the Kumo, paving the path towards the resistance level at 112.88.

AUDUSD H4
Resistance 0.7713 0.7757 0.7807
Support 0.7619 0.7570 0.7526
Primary Scenario AUDUSD has experienced strong resistance above the daily pivot zone, before closing below the daily pivot (0.7664). Further drop of the market will trigger the market to target the support levels at 0.7619 and 0.7570.
Alternative Scenario A surge of the market above the daily pivot will accelerate the pair to retest the resistance at 0.7713.

 

Article by ForexTime

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