EURUSD reached the previous month’s top.

March 18, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1369 1.1424 1.1506
Support 1.1232 1.1150 1.1096
Primary Scenario EURUSD reached the previous month’s top. If the pair manages to extend its uptrend, it will capture the next resistance level at 1.1369 and even higher at 1.1424.
Alternative Scenario A plunge of the pair below the daily pivot point at 1.1287 will push prices to find support at 1.1232. RSI oscillator is trading within the overbought territory.

GBPUSD H4
Resistance 1.4577 1.4680 1.4859
Support 1.4295 1.4117 1.4013
Primary Scenario After successfully breaching the resistance level at 1.4295 and the daily pivot point, GBPUSD is moving sideways above this level. A decisive movement upwards will trigger the market to hit the resistance at 1.4577 and further up to 1.4680.
Alternative Scenario Alternatively, a reversal back below the daily pivot will open the way down to 1.4295.

USDCHF H4
Resistance 0.9754 0.9837 0.9890
Support 0.9619 0.9566 0.9483
Primary Scenario USDCHF is still negotiating under pressure. Further drop of the market will lead the exchange rate to find support at 0.9619 and then lower at 0.9566.
Alternative Scenario A higher thrust of the currency pair above the daily pivot (0.9702) will fuel the rate to retest the hurdle in line at 0.9754. RSI supports this correction course.

USDJPY H4
Resistance 111.57 112.24 112.96
Support 111.00 110.65 110.10
Primary Scenario The USDJPY pair is following a downtrend. Should the pair achieve to extend its momentum, the next target is estimated at 111.00 and then lower at 110.65.
Alternative Scenario On the other hand, an upward wave would lift the exchange rate towards 111.57 and further up to 112.24.

AUDUSD H4
Resistance 0.7684 0.7732 0.7808
Support 0.7560 0.7484 0.7437
Primary Scenario AUDUSD is negotiating near a multi-month high. A successful attempt to penetrate the barrier at 0.7684 will lead the pair to target the forthcoming resistance level at 0.7732 and even higher at 0.7808.
Alternative Scenario A tumble of the pair below the daily pivot (0.7608) will pave the path down to 0.7560.

 

Article by ForexTime

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