AUDUSD recovered from the previous bottom.

Posted On 17 Jul 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.0938	1.1003	1.1045
Support	1.0831	1.0789	1.0724
Primary Scenario	EURUSD is trading below the daily pivot at 1.0896. A decisive movement to the south will most likely push prices to find support at 1.0831 and then lower at 1.0789.
Alternative Scenario	Should the pair achieve to surpass the daily pivot will lead the exchange rate to hit the hurdle at 1.0938.

	GBPUSD	H4
Resistance	1.5650	1.5694	1.5740
Support	1.5560	1.5515	1.5470
Primary Scenario	The pair has experienced strong resistance at 1.5650. If GBPUSD manages to penetrate this barrier, it will target the forthcoming resistances at 1.5694 and even higher at 1.5740.
Alternative Scenario	A comeback of the currency pair will push the market below the daily pivot, opening the way down to 1.5560.

	USDCHF	H4
Resistance	0.9600	0.9626	0.9669
Support	0.9531	0.9488	0.9462
Primary Scenario	USDCHF is still trading above the daily pivot point, near the previous top. If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance level at 0.9600 and further up to 0.9626.
Alternative Scenario	A deeper correction of the exchange rate will lead the pair to breach the daily pivot. The next support is seen at 0.9531.

	USDJPY	H4
Resistance	124.23	125.04	125.86
Support	123.97	123.64	123.24
Primary Scenario	The USDJPY pair is now testing the key support at 123.97. A bounce up from current levels will trigger the market to eliminate the hurdle at 124.23, with immediate target the resistance level at 125.04.
Alternative Scenario	A reversal back below the support at 123.97 will lead the pair to face the support level at 123.64.

	AUDUSD	H4
Resistance	0.7442	0.7482	0.7529
Support	0.7355	0.7308	0.7268
Primary Scenario	AUDUSD recovered from the previous bottom at 0.7355. Further reaction of the market will generate strength for the pair to exceed the barrier at 0.7442. The next resistance is estimated at 0.7482.
Alternative Scenario	A plunge of the pair below the daily pivot will push prices to retest the support level at 0.7355.

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Source:: AUDUSD recovered from the previous bottom.

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