USDCHF pummeled below the daily pivot point.

June 2, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1215 1.1244 1.1295
Support 1.1135 1.1084 1.1055
Primary Scenario EURUSD reached the important resistance level at 1.1215 in today’s session. If the pair seize the opportunity and exceed this level, the next resistance is seen at 1.1244 and further up to 1.1295.
Alternative Scenario A comeback of the market will open the way down to 1.1164 (daily pivot) and then lower at 1.1135.

GBPUSD H4
Resistance 1.4484 1.4556 1.4606
Support 1.4363 1.4313 1.4241
Primary Scenario The pair is trading on the daily pivot point at 1.4434. A bounce up from current levels will fuel the pair in further correction, targeting the resistance at 1.4484 and even higher at 1.4556.
Alternative Scenario Alternatively, a plunge of the exchange rate below the daily pivot will push GBPUSD down to 1.4363.

USDCHF H4
Resistance 0.9932 0.9985 1.0021
Support 0.9843 0.9807 0.9753
Primary Scenario USDCHF pummeled below the daily pivot point (0.9896) in the previous session. If the pair manages to extend its momentum, it will lead the market towards 0.9843 and then lower at 0.9807.
Alternative Scenario An upward wave would lift the pair above the daily pivot, with immediate target the resistance at 0.9932.

USDJPY H4
Resistance 109.33 109.63 110.10
Support 109.11 108.79 108.43
Primary Scenario A new bearish scenario is now in effect. A successful violation of the support at 109.11 will pave the path down to 108.79 and even lower at 108.43.
Alternative Scenario On the other hand, a surge of USDJPY above the hurdle at 109.33 will fuel the pair towards 109.63.

AUDUSD H4
Resistance 0.7292 0.7331 0.7363
Support 0.7220 0.7187 0.7148
Primary Scenario AUDUSD is gyrating below the daily pivot point at 0.7259. A decisive movement to the south will push the pair to find support at 0.7220. A break back below this level will pave the path down to 0.7187.
Alternative Scenario If the pair manages to withstand the sellers’ pressure, it will eliminate the daily pivot, targeting the resistance at 0.7292.

 

Article by ForexTime

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