AUDUSD has experienced strong resistance below 0.7170.

Posted On 16 Feb 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1226	1.1300	1.1349
Support	1.1102	1.1053	1.0979
Primary Scenario	EURUSD is negotiating slightly below the daily pivot point at 1.1176. Further drop of the market will pave the path down to 1.1102 and then lower at 1.1053.
Alternative Scenario	A break above the daily pivot will advance the pair towards 1.1226.

	GBPUSD	H4
Resistance	1.4505	1.4581	1.4627
Support	1.4382	1.4336	1.4260
Primary Scenario	The pair is oscillating around the daily pivot at 1.4458. If the bears achieve to take control of the bulls, GBPUSD will retest the support level at 1.4382 and further down to 1.4336.
Alternative Scenario	On the other hand, a surge of the currency pair would lead the market to exceed the daily pivot, with immediate target the resistance at 1.4505.

	USDCHF	H4
Resistance	0.9913	0.9963	1.0038
Support	0.9789	0.9714	0.9665
Primary Scenario	USDCHF is heading towards the hurdle at 0.9913. If the pair manages to extend its uptrend, it will hit this level, targeting the next resistance at 0.9963.
Alternative Scenario	A reversal back below the daily pivot (0.9839) will push prices to find support at 0.9789.

	USDJPY	H4
Resistance	114.87	115.50	116.43
Support	114.27	113.82	113.21
Primary Scenario	The USDJPY pair is trading below the Kumo. A failed attempt to penetrate the hurdle at 114.87 will push prices to hit the support at 114.27 and even lower at 113.82.
Alternative Scenario	Alternatively, a successful attempt to penetrate the resistance at 114.87 will fuel the pair further towards 115.50.

	AUDUSD	H4
Resistance	0.7170	0.7206	0.7241
Support	0.7098	0.7063	0.7026
Primary Scenario	AUDUSD has experienced strong resistance below 0.7170. If the pair achieves to eliminate this level, it will target the forthcoming resistance levels at 0.7206 and 0.7241.
Alternative Scenario	A break back below the daily pivot point at 0.7134 will open the way down to 0.7098.

The post AUDUSD has experienced strong resistance below 0.7170. appeared first on FXTM Blog.

Source:: AUDUSD has experienced strong resistance below 0.7170.

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