AUDUSD is oscillating around the daily pivot.

May 11, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1400 1.1430 1.1452
Support 1.1349 1.1328 1.1298
Primary Scenario EURUSD is gyrating the daily pivot point (1.1379). A bounce up from current level will trigger the market to retest the hurdle at 1.1400 and even higher at 1.1430.
Alternative Scenario A comeback of the currency pair below the daily pivot will open the way down to 1.1349.

GBPUSD H4
Resistance 1.4481 1.4523 1.4569
Support 1.4392 1.4345 1.4303
Primary Scenario The pair has finally managed to surpass the daily pivot at 1.4434. If GBPUSD achieves to withhold the sellers’ pressure, it will climb towards the resistance level at 1.4481 and further up to 1.4523.
Alternative Scenario Alternatively, a tumble of the market below the daily pivot will push prices to find support at 1.4392.

USDCHF H4
Resistance 0.9780 0.9803 0.9844
Support 0.9716 0.9675 0.9652
Primary Scenario USDCHF is negotiating on the daily pivot point at 0.9739. Should the pair manage to extend its momentum, the next resistance is seen at 0.9780 and then higher at 0.9803.
Alternative Scenario A break back below the daily pivot will pave the path down to 0.9716.

USDJPY H4
Resistance 109.36 109.85 110.33
Support 108.71 108.21 107.84
Primary Scenario The pair is trading slightly above the upper level of the Kumo. Any fruitful attempt to move higher will lead USDJPY to retest and eliminate the barrier at 109.36, targeting the forthcoming resistance at 109.85.
Alternative Scenario On the other hand, any successful breach of the key support at 108.71 will lead the market within the cloud. The next support is estimated at 108.21.

AUDUSD H4
Resistance 0.7388 0.7418 0.7462
Support 0.7315 0.7270 0.7241
Primary Scenario AUDUSD is oscillating around the daily pivot (0.7344). A decisive movement to the north will lift the currency pair towards 0.7388 and further up to 0.7418.
Alternative Scenario A plunge of the market below the daily pivot will lead the exchange rate to find support at 0.7315.

 

Article by ForexTime

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