AUDUSD is revolving the daily pivot at 0.6984.

Posted On 12 Jan 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.0935	1.1012	1.1056
Support	1.0813	1.0769	1.0692
Primary Scenario	EURUSD is pivoting around the daily pivot point at 1.0891. A tumble of the market will push prices to find support at 1.0813 and then lower at 1.0769.
Alternative Scenario	An upward wave would lift the exchange rate above the daily pivot, with immediate target the resistance at 1.0935.

	GBPUSD	H4
Resistance	1.4597	1.4655	1.4707
Support	1.4486	1.4434	1.4376
Primary Scenario	The pair has experienced strong resistance in the previous session. If the pair manages to extend its downtrend, it will target the support level at 1.4486 and further down to 1.4434.
Alternative Scenario	On the other hand, a higher thrust of GBPUSD will trigger the market to exceed the daily pivot (1.4545), targeting the resistance at 1.4597.

	USDCHF	H4
Resistance	1.0062	1.0113	1.0205
Support	0.9920	0.9828	0.9777
Primary Scenario	USDCHF is gyrating the daily pivot point (0.9971). A bounce up from current levels will lead the pair to retest the hurdle at 1.0062. A successful attempt to penetrate this level will most likely fuel the pair further towards the resistance at 1.0113.
Alternative Scenario	Should the pair achieve to breach the daily pivot, the next support is seen at 0.9920.

	USDJPY	H4
Resistance	117.79	118.33	118.83
Support	117.34	116.67	116.16
Primary Scenario	The pair is now testing the key support at 117.34. A break back below this level will open the way down to 116.67 and even lower at 116.16.
Alternative Scenario	Alternatively, should the pair manage to rebound from current levels, it will target the resistance at 117.79 and then higher at 118.33.

	AUDUSD	H4
Resistance	0.7042	0.7093	0.7151
Support	0.6933	0.6875	0.6825
Primary Scenario	AUDUSD is revolving the daily pivot at 0.6984. Any decisive movement to the south will push the pair to find support at 0.6933 and further down to 0.6875.
Alternative Scenario.	If the pair achieves to surpass the daily pivot, the next resistance is estimated at 0.7042.

The post AUDUSD is revolving the daily pivot at 0.6984. appeared first on FXTM Blog.

Source:: AUDUSD is revolving the daily pivot at 0.6984.

About the Author

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we will ensure that their individual needs are always met as markets continue to evolve over time. Visit ForexTime to learn more www.forextime.com [space height="20"] [social type="facebook"]https://www.facebook.com/ForexTime[/social] [social type="twitter"]https://twitter.com/ItsForexTime[/social] [social type="google-plus"]https://plus.google.com/u/0/+ForextimeFXTM/posts[/social] [social type="youtube"]https://www.youtube.com/user/ItsForexTime[/social]