AUDUSD is gyrating the daily pivot point at 0.7543.

Posted On 08 Apr 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1440	1.1505	1.1556
Support	1.1323	1.1272	1.1207
Primary Scenario	EURUSD is now trading below the daily pivot (1.1388). Any decisive movement to the south will trigger the market to breach the barrier at 1.1323 and then lower to the support level at 1.1272.
Alternative Scenario	An upward wave above the daily pivot will fuel the pair further towards the resistance level at 1.1440.

	GBPUSD	H4
Resistance	1.4124	1.4194	1.4232
Support	1.4016	1.3978	1.3908
Primary Scenario	The pair is following a downtrend. Further drop of GBPUSD will push prices to find support at 1.4016 and even lower at 1.3978.
Alternative Scenario	On the other hand, a surge of the currency pair above the daily pivot will lift the exchange rate towards 1.4124.

	USDCHF	H4
Resistance	0.9582	0.9611	0.9642
Support	0.9523	0.9492	0.9464
Primary Scenario	USDCHF is heading towards the resistance level at 0.9582. A successful penetration of this level will accelerate the market to target the forthcoming resistance level at 0.9611.
Alternative Scenario	A comeback of the currency pair will pave the path down to the daily pivot at 0.9551 and even lower at 0.9523.

	USDJPY	H4
Resistance	109.14	109.67	110.38
Support	108.57	108.05	107.67
Primary Scenario	The pair is following a correction course. A fruitless attempt to move higher will push the pair down to 108.57 and then lower at 108.05.The next support is estimated at 107.67.
Alternative Scenario	Alternatively, a higher thrust of the exchange rate will lead the pair to hit the hurdle at 109.14 and further up to 109.67.

	AUDUSD	H4
Resistance	0.7596	0.7689	0.7741
Support	0.7450	0.7398	0.7305
Primary Scenario	AUDUSD is gyrating the daily pivot point at 0.7543. A bounce up from current levels will propell the market to eye the resistance level at 0.7596 and even higher at 0.7689.
Alternative Scenario	A setback of the pair below the daily pivot will open the way down to 0.7450.

The post AUDUSD is gyrating the daily pivot point at 0.7543. appeared first on FXTM Blog.

Source:: AUDUSD is gyrating the daily pivot point at 0.7543.

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