USDCHF is gyrating the daily pivot at 0.9870.

March 16, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1129 1.1153 1.1182
Support 1.1076 1.1047 1.1023
Primary Scenario EURUSD is pivoting around the daily pivot point at 1.1100. A decisive movement to the south will lead the pair to retest the support level at 1.1076 and further down to 1.1047.
Alternative Scenario A surge of the currency pair above the daily pivot would lift the exchange rate towards 1.1129.

GBPUSD H4
Resistance 1.4257 1.4364 1.4424
Support 1.4091 1.4031 1.3925
Primary Scenario The pair is heading towards the support level at 1.4091. Should GBPUSD achieve to breach this level it will proceed lower, targeting the forthcoming support at 1.4031 and further down to 1.3925.
Alternative Scenario Alternatively, a higher thrust of the market will fuel the pair to retest the daily pivot at 1.4198 and then higher at 1.4257.

USDCHF H4
Resistance 0.9893 0.9917 0.9939
Support 0.9846 0.9824 0.9800
Primary Scenario USDCHF is gyrating the daily pivot (0.9870). If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance level at 0.9893 and even higher at 0.9917.
Alternative Scenario A plunge of the exchange rate below the daily pivot will open the way down to 0.9846.

USDJPY H4
Resistance 113.54 114.00 114.43
Support 113.33 113.01 112.62
Primary Scenario The pair is negotiating slightly above the cloud at 113.33. A bounce up from current levels will trigger the market to hit the hurdle at 113.54. If the pair manages to seize the opportunity to move higher, then the next resistance is seen at 114.00.
Alternative Scenario On the other hand, a break back below the key support at 113.33 will pave the path down to 113.01.

AUDUSD H4
Resistance 0.7509 0.7559 0.7591
Support 0.7427 0.7394 0.7344
Primary Scenario AUDUSD is trading below the daily pivot at 0.7477. If the bears manage to take control of the bulls, the currency pair will retest the support level at 0.7427. A successful violation of this level will push the pair to find support at 0.7394.
Alternative Scenario Should the pair manage to exceed the daily pivot, it will target the next resistance level at 0.7509.

 

Article by ForexTime

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