EURUSD has just tested the key resistance level at 1.0981.

Posted On 29 May 2015

Tag: AUDUSD, EURUSD, GBPUSD, Key Resistance Level, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.0981	1.1015	1.1072
Support	1.0889	1.0832	1.0798
Primary Scenario	EURUSD has just tested the key resistance level at 1.0981. A successful attempt to exceed this level will trigger the market to target the forthcoming resistances at 1.1015 and 1.1072.
Alternative Scenario	A reversal back below the daily pivot point (1.0923) will push the pair to find support at 1.0889.

	GBPUSD	H4
Resistance	1.5376	1.5442	1.5501
Support	1.5251	1.5193	1.5126
Primary Scenario	The pair is revolving the daily pivot at 1.5318. A decisive movement to the north will most likely lead GBPUSD to penetrate the barrier at 1.5376, with immediate target the resistance level at 1.5442.
Alternative Scenario	A slump of the market below the daily pivot point will open the way down to 1.5251.

	USDCHF	H4
Resistance	0.9488	0.9547	0.9582
Support	0.9393	0.9358	0.9299
Primary Scenario	A strong bearish momentum pushed USDCHF below the daily pivot at 0.9452. If the pair manages to extend its momentum, the next support is seen at 0.9393 and further down to 0.9358.
Alternative Scenario	On the other hand, a comeback of the exchange rate will lift the market to reach the daily pivot point.

	USDJPY	H4
Resistance	123.98	124.46	125.22
Support	123.58	123.31	122.95
Primary Scenario	The USDJPY pair is negotiating near the previous top. If the pair achieves to withstand the sellers’ pressure, it will eliminate the hurdle at 123.98, targeting the previous high at 124.46.
Alternative Scenario	A drop of the market below the support at 123.58 will push prices to find support at 123.31.

	AUDUSD	H4
Resistance	0.7731	0.7817	0.7875
Support	0.7588	0.7531	0.7445
Primary Scenario	AUDUSD has experienced strong resistance at the daily pivot point (0.7674). A fruitless attempt to move higher will lead the market to hit the support level at 0.7588 and even lower at 0.7531.
Alternative Scenario	A higher thrust of the market will fuel the pair to breach the daily pivot and target the resistance level at 0.7731.

The post EURUSD has just tested the key resistance level at 1.0981. appeared first on Forex Circles.

Source:: EURUSD has just tested the key resistance level at 1.0981.

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