AUDUSD plunged below the daily pivot.

Posted On 08 Feb 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1230	1.1305	1.1367
Support	1.1093	1.1032	1.0957
Primary Scenario	EURUSD is negotiating slightly below the daily pivot point at 1.1169. A decisive movement to the south will push prices to breach the support at 1.1093, targeting the next level at 1.1032.
Alternative Scenario	A higher thrust of the market will lift the exchange rate above the daily pivot, with immediate target the hurdle at 1.1230.

	GBPUSD	H4
Resistance	1.4575	1.4652	1.4714
Support	1.4435	1.4374	1.4296
Primary Scenario	The pair is now testing the daily pivot point (1.4213). A failed attempt to penetrate this level will lead GBPUSD to retest the support level at 1.4435 and even lower at 1.4374.
Alternative Scenario	Alternatively, if the pair manages to exceed the daily pivot, the rate will climb towards the resistance at 1.4575.

	USDCHF	H4
Resistance	0.9966	1.0027	1.0070
Support	0.9862	0.9819	0.9759
Primary Scenario	USDCHF bottomed at 0.9880, before retracing above the daily pivot at 0.9923. Further increase of the currency pair will fuel the market further towards the resistance levels at 0.9966 and 1.0027.
Alternative Scenario	A plunge of the market below the daily pivot will open the way down to 0.9862.

	USDJPY	H4
Resistance	117.47	117.90	118.52
Support	117.08	116.26	115.30
Primary Scenario	The pair is now poised to penetrate the hurdle at 117.47. A fruitless attempt to surpass this level will lead the market down to 117.08 and further down to 116.26.
Alternative Scenario	On the other hand, should USDJPY manage to exceed the barrier at 117.47, the next resistance is estimated at 117.90.

	AUDUSD	H4
Resistance	0.7166	0.7271	0.7323
Support	0.7009	0.6957	0.6852
Primary Scenario	AUDUSD plunged below the daily pivot in the previous session. Further drop of the market will pave the way down to 0.7009 and then lower at 0.6957.
Alternative Scenario	An upward wave would lead the currency pair above the daily pivot (0.7114), targeting the resistance at 0.7166.

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Source:: AUDUSD plunged below the daily pivot.

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