AUDUSD: The trend has been overall neutral.

Posted On 18 Nov 2014

By : admin

EURUSD Technical Analysis

	EURUSD	H4
Resistance	1.2535	1.2622	1.2667
Support	1.2404	1.2358	1.2272
Primary Scenario	EURUSD edged up at 1.2576, before closing below the daily pivot (1.2490). A sustained trading below this level, will lead the pair to retest the support at 1.2404. Further drop of the market, will open the way towards the forthcoming support at 1.2358.
Alternative Scenario	A successful attempt to penetrate the daily pivot point, will trigger the market to reach the resistance level at 1.2535.

	GBPUSD	H4
Resistance	1.5709	1.5780	1.5825
Support	1.5594	1.5549	1.5479
Primary Scenario	The pair is negotiating narrowly below the daily pivot at 1.5664. If GBPUSD manages to extend its downtrend, it will target the support at 1.5594 and then lower at 1.5549.
Alternative Scenario	An upward wave, would be a catalyst for the exchange rate to exceed the daily pivot. The next resistance is seen at 1.5709.

	USDCHF	H4
Resistance	0.9684	0.9719	0.9785
Support	0.9582	0.9516	0.9481
Primary Scenario	USDCHF bounced up from the previous bottom (0.9552) and managed to exceed the daily pivot at 0.9618. If the pair achieves to withstand the sellers’ pressure, it will gain momentum to retest the resistance level at 0.9684 and further up at 0.9719.
Alternative Scenario	A comeback of the market, will push prices to breach the daily pivot. The next support is estimated at 0.9582.

	USDJPY	H4
Resistance	116.77	117.03	117.66
Support	116.23	115.95	115.45
Primary Scenario	USDJPY is up, nearly a yearly high, putting pressure on the rate to retest the hurdle at 116.77. A higher thrust of the market, will most likely exceed this level and will lead the way towards the resistance at 117.03 and even higher to a fresh high at 117.66.
Alternative Scenario	A fruitless attempt to move higher, will push the pair to find support at 116.23 and then lower at 115.95.

	AUDUSD	H4
Resistance	0.8770	0.8833	0.8871
Support	0.8669	0.8631	0.8568
Primary Scenario	The trend has been overall neutral and for the moment AUDUSD is trading slightly below the daily pivot. A decisive movement to the south, will lead the pair to retest the barrier at 0.8669. A break back below this level, will see the market lower to the next support at 0.8631.
Alternative Scenario	A surge of the pair will lift the market above the daily pivot point (0.8732), targeting the resistance level at 0.8770.

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