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AUDUSD: Daily pivot and key resistance cleared.
Posted On 21 Jan 2015
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| EURUSD | H4 | ||
| Resistance | 1.1595 | 1.1641 | 1.1669 |
| Support | 1.1521 | 1.1493 | 1.1446 |
| Primary Scenario | EURUSD is heading to the resistance level at 1.1595. A successful attempt to penetrate this level, it will fuel the pair further towards the forthcoming resistance at 1.1641. | ||
| Alternative Scenario | A comeback of the market below the daily pivot (1.1567) will push prices lower to retest the support level at 1.1521. | ||
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GBPUSD | H4 | |
| Resistance | 1.5208 | 1.5274 | 1.5349 |
| Support | 1.5067 | 1.4992 | 1.4926 |
| Primary Scenario | The pair is poised to retest the hurdle at 1.5208. Should GBPUSD manage to exceed this level, it will target the next resistance at 1.5274. | ||
| Alternative Scenario | A plunge of the market below the daily pivot at 1.5133, it will open the way down to the support level at 1.5067. | ||
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USDCHF | H4 |  |
| Resistance | 0.8830 | 0.8909 | 0.8982 |
| Support | 0.8679 | 0.8606 | 0.8527 |
| Primary Scenario | USDCHF is oscillating around the daily pivot at 0.8757. A sustained trading below the daily pivot point it will push prices to find support at 0.8679 and then lower at 0.8606. | ||
| Alternative Scenario | An upward wave would lead the pair above the daily pivot and further up at 0.8830. | ||
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USDJPY | H4 | |
| Resistance | 118.39 | 118.87 | 119.47 |
| Support | 117.34 | 116.91 | 116.32 |
| Primary Scenario | The pair is now trading again below the cloud and a new bearish scenario is in force. Further drop of the market will bring USDJPY in deeper correction towards the support levels at 117.34 and 116.91. | ||
| Alternative Scenario | On the other hand, a higher thrust of the pair will lift the exchange rate within the cloud and towards the resistance level at 118.39. | ||
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AUDUSD | H4 | |
| Resistance | 0.8204 | 0.8240 | 0.8262 |
| Support | 0.8146 | 0.8124 | 0.8088 |
| Primary Scenario | A strong movement led the pair to clear the daily pivot point (0.8182) and the key resistance level at 0.8204. If the pair manages to withstand the sellers’ pressure, it will target the resistance levels at 0.8240 and 0.8262. | ||
| Alternative Scenario | A setback of the market below the daily pivot will push prices lower to the support level at 0.8146. | ||
The post AUDUSD: Daily pivot and key resistance cleared. appeared first on Forex Circles.
