EURUSD cleared all the given supports today. Fresh low at 1.1862.

Posted On 05 Jan 2015
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EURUSD Technical Analysis
Resistance 1.2046 1.2092 1.2116
Support 1.1977 1.1953 1.1907
Primary Scenario EURUSD cleared all the given supports today and managed to reach a fresh low (since 2006) at 1.1862, before retracing slightly below the resistance at 1.1953. A decisive movement to the south will push prices to retest the support at 1.1907. A successful attempt to breach this level will lead the market towards the previous low at 1.1862.
Alternative Scenario If the pair manages to exceed the resistance at 1.1953, it will move higher towards the hurdle at 1.1977. RSI oscillator supports this scenario.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5473 1.5621 1.5695
Support 1.5250 1.5176 1.5028
Primary Scenario The pair is heading towards the support level at 1.5250. A break back below this level will most likely push GBPUSD to retest the forthcoming support at 1.5176 and even lower at 1.5028. Do not ignore the RSI oscillator, which is trading within an oversold territory.
Alternative Scenario An upward wave, would trigger the market to target the daily pivot at 1.5398 and further up at 1.5473.


USDCHF Technical Analysis USDCHF H4 Up Trend
Resistance 1.0033 1.0054 1.0091
Support 0.9976 0.9939 0.9919
Primary Scenario USDCHF soars in the today’s session. The pair approached the 1.0247 level, before closing below the resistance at 1.0091. Any successful attempt to penetrate the said level, it will fuel the market further towards the previous top (1.0247).
Alternative Scenario A setback of the exchange rate, will lead the market below the support at 1.0054 and then lower at 1.0033. RSI is amounted at 85, trading within an overbought area.


USDJPY Technical Analysis USDJPY H4 Up Trend
Resistance 120.73 120.98 121.82
Support 120.22 120.01 119.78
Primary Scenario The trend has been overall neutral in the previous sessions. Should the pair manage to surpass the hurdle at 120.73, it will target the resistance level at 120.98.
Alternative Scenario A plunge of the USDJPY pair below the support level at 120.22, will open the way down towards the forthcoming support at 120.01. If that happens, the currency pair will enter the Kumo.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.8129 0.8171 0.8198
Support 0.8061 0.8035 0.7993
Primary Scenario AUDUSD is poised to retest the support level at 0.8035. A breach of this level will push the pair to move lower towards the next target at 0.7993.
Alternative Scenario A higher thrust of the market will lift the pair to penetrate the resistance at 0.8061 and further up at the daily pivot (0.8103). RSI supports this outlook.


The post EURUSD cleared all the given supports today. Fresh low at 1.1862. appeared first on Forex Circles.

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