AUDUSD is testing the previous top at 0.7487.

Posted On 21 Jun 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1362	1.1412	1.1442
Support	1.1281	1.1250	1.1200
Primary Scenario	EURUSD is trading on the daily pivot point at 1.1331. A decisive movement to the north will lift the exchange rate to retest the hurdle at 1.1362 and further up to 1.1412.
Alternative Scenario	Should the pair achieve to breach the daily pivot, the next support is seen at 1.1281.

	GBPUSD	H4
Resistance	1.4794	1.4898	1.5079
Support	1.4510	1.4529	1.4225
Primary Scenario	The pair is negotiating slightly above the daily pivot (1.4616). If the pair manages to extend its bullish momentum, it will climb towards the resistance level at 1.4794 and then higher at 1.4898.
Alternative Scenario	On the other hand, a break back below the daily pivot will push prices to find support at 1.4510. RSI oscillator supports this outlook.

	USDCHF	H4
Resistance	0.9647	0.9677	0.9713
Support	0.9581	0.9545	0.9515
Primary Scenario	USDCHF is gyrating the daily pivot point (0.9611). An upward wave would trigger the market to hit the hurdle at 0.9647 and further up to 0.9677.
Alternative Scenario	A drop of the pair below the daily pivot will open the way down to 0.9581.

	USDJPY	H4
Resistance	104.54	104.98	105.78
Support	104.08	103.52	103.02
Primary Scenario	The USDJPY pair is still moving sideways below the Kumo. A plunge of the market below the support at 104.08 will pave the path down to 103.52 and even lower at 103.02.
Alternative Scenario	Alternatively, a surge of the market above the barrier at 104.54 will lead the currency pair towards the Kijun-sen line at 104.98.

	AUDUSD	H4
Resistance	0.7487	0.7521	0.7562
Support	0.7412	0.7371	0.7337
Primary Scenario	AUDUSD is testing the previous top at 0.7487. Should a breakout occur above this level will accelerate the exchange rate to target the next level at 0.7521. The next resistance is seen at 0.7562.
Alternative Scenario	A reversal back below the daily pivot (0.7446) will push the pair to find support at 0.7412.

The post AUDUSD is testing the previous top at 0.7487. appeared first on FXTM Blog.

Source:: AUDUSD is testing the previous top at 0.7487.

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