Aussie has tested the critical support level at 0.7310.

Posted On 19 Aug 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1069	1.1119	1.1145
Support	1.0994	1.0967	1.0918
Primary Scenario	EURUSD bounced up from the previous low and is now trading above the daily pivot point at 1.1043. If the pair manages to extend its correction, the next resistance is seen at 1.1069 and further up to 1.1119.
Alternative Scenario	A tumble of the currency pair will push prices below the daily pivot, targeting the support level at 1.0994.

	GBPUSD	H4
Resistance	1.5727	1.5799	1.5882
Support	1.5573	1.5490	1.5418
Primary Scenario	The pair is hovering around the daily pivot at 1.5644. Any decisive movement to the north will generate strength for GBPUSD to exceed the hurdle at 1.5727, with immediate target the forthcoming resistance at 1.5799.
Alternative Scenario	Alternatively, a break back below the daily pivot will open the way down to 1.5573.

	USDCHF	H4
Resistance	0.9793	0.9816	0.9838
Support	0.9749	0.9728	0.9705
Primary Scenario	USDCHF is gyrating the daily pivot point at 0.9772. A plunge of the market will lead the pair to retest the support levels at 0.9749 and 0.9728.
Alternative Scenario	An upward wave would lift the currency pair above the daily pivot point, towards the resistance level at 0.9793.

	USDJPY	H4
Resistance	124.38	124.53	124.88
Support	124.21	123.92	123.50
Primary Scenario	The USDJPY pair is negotiating below the Kumo and a new bearish outlook is now in force. Any fruitful attempt to violate the key support level at 124.21 will pave the way down to 123.92.
Alternative Scenario	On the other hand, a higher thrust of the market will lead the pair to penetrate the resistance at 124.38, targeting the upper level of the cloud at 124.53.

	AUDUSD	H4
Resistance	0.7376	0.7413	0.7442
Support	0.7310	0.7282	0.7244
Primary Scenario	Aussie has tested the critical support level at 0.7310. If the bears manage to take control of the bulls and eliminate this level, it will target the next support at 0.7282.
Alternative Scenario.	A surge of the market above the daily pivot will fuel the pair to retest the hurdle at 0.7376.

The post Aussie has tested the critical support level at 0.7310. appeared first on Forex Circles.

Source:: Aussie has tested the critical support level at 0.7310.

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