EURUSD crossed below the daily pivot.

April 14, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1352 1.1432 1.1474
Support 1.1230 1.1188 1.1108
Primary Scenario EURUSD crossed below the daily pivot (1.1310) in the previous session. If the pair manages to extend its downtrend, it will target the forthcoming support level at 1.1230 and then lower at 1.1188.
Alternative Scenario An upward wave above the daily pivot will lift the exchange rate towards 1.1352. RSI is trading within the oversold zone.

GBPUSD H4
Resistance 1.4256 1.4311 1.4343
Support 1.4169 1.4137 1.4082
Primary Scenario The pair is now testing the key support level at 1.4137. A decisive movement to the south will open the way down to 1.4082.
Alternative Scenario On the other hand, a higher thrust of GBPUSD will fuel the pair towards the now-resistance at 1.4169.

USDCHF H4
Resistance 0.9710 0.9754 0.9837
Support 0.9583 0.9500 0.9456
Primary Scenario USDCHF surged above the daily pivot point (0.9627) in yesterday’s session. If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance level at 0.9710 and then higher at 0.9754.
Alternative Scenario A comeback of the market will push prices to find support at the daily pivot and further down to 0.9583. RSI oscillator supports this outlook.

USDJPY H4
Resistance 109.54 109.88 110.38
Support 109.24 108.73 108.17
Primary Scenario The pair is now testing the lower level of the Kumo. A failed attempt to move higher would put pressure to the currency pair to turn back south and breach the barrier at 109.24. The next support is estimated at 108.73.
Alternative Scenario Alternatively, a successful attempt to enter within the cloud will lead USDJPY to surpass the resistance at 109.54, with immediate target the next target at 109.88.

AUDUSD H4
Resistance 0.7699 0.7748 0.7781
Support 0.7617 0.7584 0.7536
Primary Scenario AUDUSD edged up to 0.7715, before retracing below the daily pivot at 0.7666. A deeper correction of the market will push the pair to find support at 0.7617 and then lower at 0.7584.
Alternative Scenario Should the pair achieve to penetrate the daily pivot, it will pave the path towards 0.7699.

 

Article by ForexTime

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