USDCHF continues to discover fresh highs.

Posted On 29 Oct 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1049	1.1171	1.1248
Support	1.0849	1.0773	1.0650
Primary Scenario	A strong bearish movement led EURUSD to violate the daily pivot point at 1.0972. Further drop of the market will push the pair to find support at 1.0849 and then lower at 1.0773.
Alternative Scenario	Should the pair manage to surpass the daily pivot, the next resistance is seen at 1.1049. RSI oscillator is trading within the oversold zone.

	GBPUSD	H4
Resistance	1.5326	1.5385	1.5424
Support	1.5227	1.5188	1.5129
Primary Scenario	The pair is following a downtrend. If GBPUSD achieves to extend its momentum, it will open the way down to 1.5227 and then lower to 1.5188.
Alternative Scenario	On the other hand, an upward wave would lead the pair above the daily pivot, with immediate target the resistance at 1.5326.

	USDCHF	H4
Resistance	0.9990	1.0042	1.0128
Support	0.9852	0.9766	0.9714
Primary Scenario	USDCHF continues to discover fresh highs. A successful attempt to penetrate the hurdle at 0.9990 will trigger the market even higher towards the resistance level at 1.0042.
Alternative Scenario	A comeback of the currency pair will push prices below the daily pivot (0.9904) and further down to 0.9852. RSI supports this outlook.

	USDJPY	H4
Resistance	120.80	121.15	121.47
Support	120.61	120.31	120.01
Primary Scenario	The bullish scenario is still in force. If the pair manages to withstand the sellers’ pressure and exceed the barrier at 120.80, the next resistance is estimated at 121.15.
Alternative Scenario	Alternatively, a plunge of USDJPY below the support level at 120.61 will open the way down to 120.31.

	AUDUSD	H4
Resistance	0.7177	0.7254	0.7303
Support	0.7051	0.7002	0.6924
Primary Scenario	AUDUSD is trading slightly below the daily pivot at 0.7128. If the pair achieves to breach the support level at 0.7051, it will pave the path down to 0.7002.
Alternative Scenario.	A decisive movement to the north above the daily pivot will fuel the pair towards the resistance level at 0.7177.

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Source:: USDCHF continues to discover fresh highs.

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