AUDUSD edged up at 0.7243.

Posted On 08 Oct 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1276	1.1316	1.1348
Support	1.1203	1.1171	1.1131
Primary Scenario	EURUSD is revolving the daily pivot point (1.1243). Any forceful movement to the north will fuel the pair to surpass the critical resistance at 1.1276, targeting the forthcoming level at 1.1316.
Alternative Scenario	Alternatively, should the pair manage to violate the daily pivot, it will open the way down to 1.1203.

	GBPUSD	H4
Resistance	1.5364	1.5412	1.5486
Support	1.5242	1.5169	1.5121
Primary Scenario	The pair has finally achieved to penetrate the daily pivot point at 1.5290. If GBPUSD manages to withhold the sellers’ pressure, it will climb towards the resistance level at 1.5364 and even higher at 1.5412.
Alternative Scenario	On the other hand, a reversal back below the daily pivot would push prices down to 1.5242.

	USDCHF	H4
Resistance	0.9766	0.9798	0.9858
Support	0.9675	0.9615	0.9583
Primary Scenario	USDCHF surged above the daily pivot (0.9707). Further increase of the exchange rate will lead the pair to target the resistance levels at 0.9766 and 0.9798.
Alternative Scenario	A break back below the support level will push the pair to find support at 0.9675.

	USDJPY	H4
Resistance	119.94	120.22	120.55
Support	119.81	119.61	119.17
Primary Scenario	The is now testing the key support level at 119.81. If the bears take control of the bulls, the currency pair will pave the path down to 119.61 and then lower at 119.17.
Alternative Scenario	An upward wave would lift the market within the cloud towards the hurdle at 120.22

	AUDUSD	H4
Resistance	0.7243	0.7281	0.7328
Support	0.7158	0.7115	0.7073
Primary Scenario	AUDUSD edged up at 0.7243, before retracing below the daily pivot at 0.7196. A deeper correction of the market will lead the pair to breach the support at 0.7158, pushing the rate underway towards the support level at 0.7115.
Alternative Scenario.	A successful attempt to exceed the daily pivot will trigger the market to retest the hurdle at 0.7243.

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Source:: AUDUSD edged up at 0.7243.

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