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GBPUSD bounced up from the previous low.
Posted On 31 Dec 2014
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| EURUSD | H4 | ||
| Resistance | 1.2187 | 1.2218 | 1.2251 |
| Support | 1.2124 | 1.2091 | 1.2060 |
| Primary Scenario | EURUSD is oscillating around the daily pivot at 1.2155. A sustained trading above this level will lift the pair to reach the resistance level at 1.2187 and then higher at 1.2218. | ||
| Alternative Scenario | A failed attempt to move higher will push prices below the daily pivot and even lower at 1.2124. | ||
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GBPUSD | H4 | |
| Resistance | 1.5588 | 1.5617 | 1.5661 |
| Support | 1.5515 | 1.5471 | 1.5443 |
| Primary Scenario | The pair bounced up from the previous bottom and is now poised to test the resistance at 1.5588. If GBPUSD manages to withstand the sellers’ pressure, it will climb towards the resistance level at 1.5588 and further up at 1.5617. | ||
| Alternative Scenario | A reversal back below the daily pivot (1.5544) will push the pair to find support at 1.5515. | ||
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USDCHF | H4 | |
| Resistance | 0.9914 | 0.9942 | 0.9966 |
| Support | 0.9862 | 0.9839 | 0.9810 |
| Primary Scenario | USDCHF is currently gyrating the daily pivot at 0.9890. A decisive movement to the north will trigger the market to retest the hurdle at 0.9914. The next resistance is seen at 0.9942. | ||
| Alternative Scenario | A plunge of the exchange rate below the daily pivot, will most likely open the way down to the support level at 0.9862. | ||
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USDJPY | H4 | |
| Resistance | 119.76 | 120.21 | 120.81 |
| Support | 119.25 | 118.85 | 118.25 |
| Primary Scenario | The upper level of the cloud has been reached yesterday, but the bullish sentiment is still in force. An upward wave would generate strength for the market to penetrate the hurdle at 119.76, targeting the forthcoming resistance at 120.21. | ||
| Alternative Scenario | Should USDJPY manage to breach the support at 119.25, it will find support at 118.85. | ||
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AUDUSD | H4 | |
| Resistance | 0.8215 | 0.8249 | 0.8297 |
| Support | 0.8134 | 0.8087 | 0.8053 |
| Primary Scenario | AUDUSD has tested twice the hurdle at 0.8215 in the today’s session. Any purposeful movement upwards to exceed this level, it will fuel the pair further towards the resistance level at 0.8249. | ||
| Alternative Scenario | A drop of the currency pair below the daily pivot (0.8168), will see the support level at 0.8134. | ||
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