EURUSD bounced up from the previous bottom.

Posted On 13 May 2015

Tag: EUR

	EURUSD	H4
Resistance	1.1282	1.1352	1.1426
Support	1.1138	1.1064	1.0994
Primary Scenario	EURUSD bounced up from the previous bottom and is now heading towards the key resistance at 1.1282. A successful surpass of this level will most likely lift the market higher towards 1.1352.
Alternative Scenario	A reversal back below the daily pivot point (1.1208) will push prices to find support at 1.1138.

	GBPUSD	H4
Resistance	1.5732	1.5798	1.5886
Support	1.5579	1.5491	1.5426
Primary Scenario	The pair is negotiating near the previous top at 1.5732. If the bulls manage to take control of the bears, GBPUSD will exceed this level, targeting the forthcoming resistance at 1.5798 and even higher at 1.5886.
Alternative Scenario	A setback of the exchange rate below the daily pivot at 1.5644 will lead the currency pair down to 1.5579. RSI oscillator supports this scenario.

	USDCHF	H4
Resistance	0.9363	0.9434	0.9510
Support	0.9216	0.9140	0.9069
Primary Scenario	USDCHF is oscillating around the daily pivot at 0.9287. A decisive movement to the south will push the pair to breach the barrier at 0.9216, opening the way down to 0.9140.
Alternative Scenario	An upward wave would act as a catalyst for the market to penetrate the daily pivot. The next resistance is seen at 0.9363.

	USDJPY	H4
Resistance	120.00	120.27	120.83
Support	119.73	119.48	119.05
Primary Scenario	USDJPY is hovering slightly above the upper level of the Kumo. The bullish outlook is still in effect and a fruitful attempt to surpass the hurdle at 120.00 will generate strength for the currency pair to move higher towards the resistance level at 120.27.
Alternative Scenario	On the other hand, a failed bullish momentum will lead the rate into the cloud with immediate target the support at 119.48.

	AUDUSD	H4
Resistance	0.8021	0.8067	0.8134
Support	0.7907	0.7840	0.7794
Primary Scenario	The pair is gyrating the daily pivot point at 0.7953. If the pair manages to withstand the bears pressure, it will climb towards the resistance level at 0.8021 and then higher at 0.8067.
Alternative Scenario	A break back below the daily pivot it will pave the path lower, down to 0.7907.

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Source:: EURUSD bounced up from the previous bottom.

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