AUDUSD failed to move higher in the previous session.

Posted On 24 Mar 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1215	1.1251	1.1279
Support	1.1151	1.1123	1.1087
Primary Scenario	EURUSD is following a downtrend. If the pair manages to extend its momentum, it will target the support level at 1.1151 and even lower at 1.1123.
Alternative Scenario	A surge of the pair above the daily pivot (1.1187) will lift the exchange rate towards the next resistance level at 1.1215.

	GBPUSD	H4
Resistance	1.4202	1.4287	1.4347
Support	1.4056	1.3996	1.3911
Primary Scenario	A plunge of the pair led the pair below the daily pivot at 1.4141. Further drop of the market will push GBPUSD to test the support at 1.4056. A break back below this level will open the way down to 1.3996.
Alternative Scenario	A higher thrust of the market will fuel the pair above the daily pivot, with immediate target the resistance at 1.4202. RSI supports this outlook.

	USDCHF	H4
Resistance	0.9770	0.9788	0.9811
Support	0.9729	0.9706	0.9687
Primary Scenario	USDCHF is trading below the key resistance level at 0.9770. Should the pair manage to surpass this level, it will accelerate the market to hit the forthcoming resistance at 0.9788.
Alternative Scenario	A reversal back below the daily pivot will push prices to find support at 0.9729.

	USDJPY	H4
Resistance	112.85	113.31	113.80
Support	112.55	112.26	111.94
Primary Scenario	After successfully breaching the upper level of the cloud, USDJPY is now testing the hurdle at 112.85. If the pair achieves to exceed this level, the next resistance is estimated at 113.31.
Alternative Scenario	On the other hand, a comeback of the currency pair below the upper level of the Kumo (112.55) will pave the path down to 112.26.

	AUDUSD	H4
Resistance	0.7615	0.7696	0.7744
Support	0.7486	0.7438	0.7357
Primary Scenario	AUDUSD failed to move higher in the previous session and violated the daily pivot at 0.7567. A deeper drop of the market will lead the pair to breach the key level at 0.7486, eyeing lower levels towards 0.7438 and further down to 0.7357.
Alternative Scenario	An upward wave would trigger the market to hit the daily pivot point.

The post AUDUSD failed to move higher in the previous session. appeared first on FXTM Blog.

Source:: AUDUSD failed to move higher in the previous session.

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