AUDUSD has tested the key support level at 0.7573.

April 5, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1414 1.1440 1.1469
Support 1.1359 1.1330 1.1304
Primary Scenario EURUSD is gyrating the daily pivot point at 1.1385. Any purposeful movement to the south will trigger the market to breach the barrier at 1.1359, with immediate target the support level at 1.1330.
Alternative Scenario A surge of the pair above the daily pivot will lead the exchange rate to hit the resistance at 1.1414.

GBPUSD H4
Resistance 1.4324 1.4388 1.4455
Support 1.4194 1.4126 1.4063
Primary Scenario The pair is trading slightly below the daily pivot point (1.4257). If the bears manage to take control of the bulls and retest the support at 1.4194, it will target the forthcoming level at 1.4126.
Alternative Scenario Alternatively, an upward wave would lift GBPUSD above the daily pivot, targeting the resistance at 1.4324.

USDCHF H4
Resistance 0.9608 0.9633 0.9653
Support 0.9563 0.9544 0.9519
Primary Scenario USDCHF is pivoting around the daily pivot at 0.9589. A bounce up from current levels will fuel the pair to hit the resistance levels at 0.9608 and 0.9633.
Alternative Scenario A plunge of the market below the daily pivot will push prices to find support at 0.9563.

USDJPY H4
Resistance 111.06 111.75 112.26
Support 110.77 110.18 109.40
Primary Scenario The pair is following a downtrend. Should the pair achieve to extend its momentum, it will eliminate the barrier at 110.77 and the next support is seen at 110.18.
Alternative Scenario On the other hand, a higher thrust of the market will accelerate USDJPY to penetrate 111.06 and then higher at 111.75. RSI supports this outlook.

AUDUSD H4
Resistance 0.7653 0.7704 0.7732
Support 0.7573 0.7546 0.7494
Primary Scenario AUDUSD has tested the key support level at 0.7573. Any decisive movement downwards will push the pair to violate this level and a break back below will lead the exchange rate down to 0.7546 and even lower at 0.7494.
Alternative Scenario A setback of the currency pair will lift the market hit the daily pivot point at 0.7625 and further up to 0.7653.

 

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

10 years ago