EURUSD surged near the previous high at 1.1278.

Posted On 29 Sep 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1278	1.1313	1.1379
Support	1.1177	1.1111	1.1076
Primary Scenario	EURUSD surged near the previous high at 1.1278. A successful attempt to penetrate this level will generate strength for the market to target the forthcoming resistance levels at 1.1313 and 1.1379.
Alternative Scenario	A comeback of the exchange rate would push the pair to find support at 1.1177.

	GBPUSD	H4
Resistance	1.5222	1.5273	1.5306
Support	1.5139	1.5106	1.5055
Primary Scenario	The pair is heading towards the support level at 1.5189. A break back below this level will open the way down to 1.5106 and even lower to 1.5055.
Alternative Scenario	An upward wave would lead GBPUSD to exceed the daily pivot at 1.5189, with immediate target the resistance at 1.5222.

	USDCHF	H4
Resistance	0.9792	0.9851	0.9886
Support	0.9698	0.9662	0.9604
Primary Scenario	USDCHF is now poised to retest the support level at 0.9698. Further drop of the market will push prices to find support at 0.9662 and further down to 0.9604.
Alternative Scenario	A higher thrust of the currency pair will lift the rate above the daily pivot (0.9756), targeting the resistance at 0.9792.

	USDJPY	H4
Resistance	119.76	120.00	120.22
Support	119.22	119.04	118.84
Primary Scenario	A strong bearish movement led USDJPY below the Kumo. If the pair manages to extend its downtrend, the next resistance is estimated at 119.47 and then lower at 119.22.
Alternative Scenario	On the other hand, a setback of the currency pair will push the market towards the resistance level at 119.76.

	AUDUSD	H4
Resistance	0.7022	0.7057	0.7079
Support	0.6965	0.6943	0.6908
Primary Scenario	AUDUSD is now testing the key support level at 0.6943. If the bears achieve and take control of the bulls, the next support is seen at 0.6908.
Alternative Scenario.	Alternatively, a bounce up from current levels will trigger the market to reach the resistance level at 0.6965 and even higher at 0.7000 (daily pivot). RSI oscillator supports this outlook.

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Source:: EURUSD surged near the previous high at 1.1278.

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