EURUSD: The price has been trapped between 1.1331 and 1.1450.

April 13, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1450 1.1517 1.1570
Support 1.1331 1.1278 1.1211
Primary Scenario The price has been trapped between the resistance level at 1.1450 and the support level at 1.1331. Any fruitful attempt to violate the key support level at 1.1331 will lead EURUSD towards the next target at 1.1278.
Alternative Scenario A surge of the pair above the daily pivot (1.1397) will lift the exchange rate to hit the hurdle at 1.1450.

GBPUSD H4
Resistance 1.4348 1.4423 1.4500
Support 1.4196 1.4119 1.4044
Primary Scenario The pair topped up at 1.4348, before closing below the daily pivot point at 1.4271. A deeper correction of GBPUSD will push prices to find support at 1.4196 and even lower at 1.4119.
Alternative Scenario Alternatively, an upward wave above the daily pivot will fuel the pair to retest the hurdle at 1.4348.

USDCHF H4
Resistance 0.9595 0.9642 0.9691
Support 0.9498 0.9449 0.9402
Primary Scenario USDCHF is revolving the daily pivot point (0.9546). A successful penetration of the barrier at 0.9595 will trigger the currency pair to target the next resistance level at 0.9642.
Alternative Scenario A tumble of the exchange rate below the daily pivot will push prices to find support at 0.9498.

USDJPY H4
Resistance 109.07 109.67 110.38
Support 108.56 107.67 106.90
Primary Scenario The USDJPY pair bounced up from the previous bottom and is heading towards the lower level of the cloud. A reversal back below the key support at 108.56 will open the way down to the previous low at 107.67
Alternative Scenario On the other hand, if the pair manages to withstand the sellers’ pressure, it will exceed the hurdle at 109.07, with immediate target the resistance at 109.67.

AUDUSD H4
Resistance 0.7719 0.7757 0.7825
Support 0.7612 0.7544 0.7506
Primary Scenario AUDUSD has tested the hurdle in line at 0.7719. Should the pair achieve to surpass this level, the next resistance is seen at 0.7757 and further up to 0.7825.
Alternative Scenario A reversal back below the daily pivot (0.7650) will pave the path down to 0.7612.

 

Article by ForexTime

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