USDCHF collapsed in the previous session.

March 30, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1338 1.1387 1.1473
Support 1.1204 1.1119 1.1070
Primary Scenario EURUSD cleared the resistance level at 1.1204 and the daily pivot point at 1.1253. If the pair achieves to extend its uptrend, it will target the next resistance level at 1.1338 and even higher 1.1387.
Alternative Scenario A reversal back below the daily pivot will bring the market into a correction course, down to 1.1204. RSI is trading within the overbought territory.

GBPUSD H4
Resistance 1.4457 1.4534 1.4666
Support 1.4248 1.4116 1.4039
Primary Scenario A strong bullish movement led the pair to penetrate the daily pivot (1.4325). Further increase of the exchange rate will lift GBPUSD towards 1.4457 and then higher at 1.4534.
Alternative Scenario Alternatively, a plunge of the market below the daily pivot will push prices to retest the support level at 1.4248. RSI oscillator supports this outlook.

USDCHF H4
Resistance 0.9731 0.9799 0.9836
Support 0.9626 0.9589 0.9521
Primary Scenario USDCHF collapsed in the previous session. Further drop of the market will pave the path towards 0.9626 and even lower at 0.9589.
Alternative Scenario An upward wave would fuel the pair above the daily pivot (0.9694), with immediate target the resistance at 0.9731. RSI is negotiating within the oversold zone.

USDJPY H4
Resistance 112.68 113.09 113.78
Support 112.04 111.55 111.04
Primary Scenario The pair has just breached the upper level of the Kumo (112.39) and is now trading within the cloud. A bounce up from current levels will trigger the market to exceed the barrier at 112.39, targeting the resistance levels at 112.68 and 113.09.
Alternative Scenario On the other hand, a successful violation of the support level at 112.04 will open the way down to 111.55.

AUDUSD H4
Resistance 0.7676 0.7728 0.7811
Support 0.7542 0.7458 0.7407
Primary Scenario AUDUSD is trading slightly above the daily pivot at 0.7593, after successfully penetrating the resistance level at 0.7542 and the daily pivot point. Should the pair manage to extend its momentum, it will hit the forthcoming resistance level at 0.7676. The next resistance is seen at 0.7728.
Alternative Scenario A tumble of the pair will lead the market to find support at 0.7542.

 

Article by ForexTime

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