AUDUSD set to breach the obstacle at 0.7676.

Posted On 21 Apr 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.0800	1.0864	1.0909
Support	1.0692	1.0647	1.0584
Primary Scenario	EURUSD is hovering below the daily pivot (1.0756). A downward wave would push the market to target the support level at 1.0692 and then lower at 1.0647.
Alternative Scenario	Should the pair manage to penetrate the daily pivot, it will reach the critical resistance level at 1.0800.

	GBPUSD	H4
Resistance	1.4963	1.5021	1.5059
Support	1.4867	1.4829	1.4771
Primary Scenario	The pair has violated the key support at 1.4925 (daily pivot) and is now heading towards the forthcoming level at 1.4867. Further drop of GBPUSD will most likely open the way down to 1.4829.
Alternative Scenario	Alternatively, a higher thrust of the exchange rate to exceed the daily pivot will lift the market to retest the hurdle at 1.4963.

	USDCHF	H4
Resistance	0.9604	0.9651	0.9703
Support	0.9504	0.9452	0.9405
Primary Scenario	USDCHF is gyrating the daily pivot point at 0.9551. Any forceful movement to the north will trigger the market to surpass the barrier at 0.9604, with immediate target the resistance level at 0.9651.
Alternative Scenario	A setback of the currency pair will see the market below the daily pivot. The next support is seen at 0.9504.

	USDJPY	H4
Resistance	119.50	119.76	120.28
Support	119.14	118.79	118.52
Primary Scenario	The pair bounced up from the previous low and it is now testing the resistance level at 119.50. A fruitless attempt to move higher will push prices backwards towards the support level at 119.14 and even lower at 118.79.
Alternative Scenario	A successful attempt to exceed the hurdle at 119.50 will generate strength for USDJPY to test the lower level of the cloud at 119.76.

	AUDUSD	H4
Resistance	0.7796	0.7873	0.7920
Support	0.7676	0.7630	0.7555
Primary Scenario	AUDUSD set to breach the obstacle at 0.7676. If that happens, the next support is seen at 0.7630 and further down to 0.7555.
Alternative Scenario	On the other hand, a higher thrust of the market will lead the pair towards the daily pivot (0.7752) and even higher at 0.7796.

The post AUDUSD set to breach the obstacle at 0.7676. appeared first on Forex Circles.

Source:: AUDUSD set to breach the obstacle at 0.7676.

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