AUDUSD is now testing the resistance level at 0.7639.

April 12, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1444 1.1482 1.1519
Support 1.1368 1.1332 1.1293
Primary Scenario EURUSD is trading on the daily pivot point (1.1407). A decisive movement to the south will push prices to retest the support level at 1.1368 and then lower at 1.1332.
Alternative Scenario A higher thrust of the market will lead the pair above the daily pivot, targeting the resistance at 1.1444.

GBPUSD H4
Resistance 1.4311 1.4390 1.4494
Support 1.4129 1.4025 1.3947
Primary Scenario A strong upward momentum led GBPUSD to cross above the daily pivot at 1.4207, in the previous session. Should the pair manage to extend this momentum, it will target the next resistance at 1.4311 and further up to 1.4390.
Alternative Scenario On the other hand, a break back below the daily pivot will open the way down to 1.4129.

USDCHF H4
Resistance 0.9572 0.9604 0.9640
Support 0.9504 0.9468 0.9436
Primary Scenario USDCHF is negotiating slightly above the daily pivot point at 0.9536. A bounce up from current levels will accelerate the market to retest the barrier at 0.9572. A successful attempt to exceed this level will witness the next resistance level at 0.9604.
Alternative Scenario A plunge of the market below the daily pivot will pave the path down to 0.9504.

USDJPY H4
Resistance 108.41 109.11 109.90
Support 107.60 106.90 106.22
Primary Scenario The bearish outlook is still in force. If USDJPY achieves to breach the support level at 107.60, the next support is estimated at 106.90.
Alternative Scenario Alternatively, a surge of the market above the hurdle at 108.41 will lift the exchange rate towards 109.11.

AUDUSD H4
Resistance 0.7639 0.7685 0.7741
Support 0.7536 0.7480 0.7434
Primary Scenario AUDUSD is now testing the resistance level at 0.7639. If the pair manages to surpass this level, it will climb towards the forthcoming resistance level at 0.7685 and even higher at 0.7741.
Alternative Scenario A comeback of the market will lead the pair to find support at the daily pivot (0.7583) and then lower at 0.7536.

 

Article by ForexTime

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