AUDUSD is heading towards the support level at 0.7188.

May 19, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1282 1.1349 1.1383
Support 1.1180 1.1146 1.1079
Primary Scenario EURUSD plunged in the previous session. If the pair manages to extend its downtrend, the next support is seen at 1.1180 and further down to 1.1146.
Alternative Scenario A correction course of the currency pair will lead the market to hit the daily pivot (1.1248) and then higher at 1.1282. RSI supports this outlook.

GBPUSD H4
Resistance 1.4685 1.4775 1.4917
Support 1.4454 1.4312 1.4222
Primary Scenario A strong bullish momentum led GBPUSD above the daily pivot (1.4544). Should the pair manage to withhold the sellers pressure, it will climb towards the resistance at 1.4685 and further up to 1.4775.
Alternative Scenario Alternatively, a break back below the daily pivot will push prices to find support at 1.4454.

USDCHF H4
Resistance 0.9904 0.9933 0.9986
Support 0.9822 0.9768 0.9740
Primary Scenario USDCHF has propelled into fresh top. Further bullish momentum will trigger the market to penetrate the hurdle at 0.9904, with immediate target the resistance level at 0.9933 and even higher at 0.9986.
Alternative Scenario A comeback of the market will pave the path down to the daily pivot at 0.9851. A breach of this level will lead the market underway down to 0.9822.RSI is trading within the oversold zone.

USDJPY H4
Resistance 110.27 110.99 111.87
Support 109.92 109.28 108.71
Primary Scenario The pair is negotiating near the previous high at 110.27. If USDJPY achieves to exceed this level, it will accelerate the exchange rate to target the forthcoming resistance level at 110.99.
Alternative Scenario On the other hand, a drop of the pair below the support at 109.92 will open the way down to 109.28.

AUDUSD H4
Resistance 0.7297 0.7368 0.7406
Support 0.7188 0.7150 0.7080
Primary Scenario AUDUSD is heading towards the support level at 0.7188. A successful violation of this level will push the pair to find support at 0.7150 and then lower at 0.7080.
Alternative Scenario An upward wave would lead the currency pair towards the daily pivot (0.7259) and even higher at 0.7297.

 

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