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USDCHF failed to penetrate the hurdle at 1.0115.
Posted On 06 Jan 2015
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| EURUSD | H4 | ||
| Resistance | 1.1984 | 1.2036 | 1.2097 |
| Support | 1.1870 | 1.1809 | 1.1757 |
| Primary Scenario | EURUSD recovered from the previous bottom and managed to exceed the daily pivot at 1.1923. A further correction of the market will push the rate to hit the resistance level at 1.1984 and even higher at 1.2036. | ||
| Alternative Scenario | Should the pair achieve to violate the daily pivot, it will find support at 1.1870. | ||
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GBPUSD | H4 | |
| Resistance | 1.5318 | 1.5389 | 1.5459 |
| Support | 1.5177 | 1.5106 | 1.5035 |
| Primary Scenario | The pair penetrated the daily pivot point (1.5248) in the today’s session. A sustained trading above this level will generate strength for GBPUSD to target the forthcoming resistance level at 1.5318 and then higher at 1.5389. RSI oscillator supports this scenario. | ||
| Alternative Scenario | A break back below the daily pivot, will most likely lead the currency pair to move lower towards the support level at 1.5177. | ||
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USDCHF | H4 |  |
| Resistance | 1.0199 | 1.0330 | 1.0414 |
| Support | 0.9984 | 0.9901 | 0.9770 |
| Primary Scenario | USDCHF failed to penetrate the hurdle at 1.0115 (daily pivot). If the bears take control and overweight the bulls’ pressure, it will attempt to breach the support at 0.9984. The next support is seen at 0.9901. | ||
| Alternative Scenario | Any successful attempt to surpass the daily pivot will lift the market towards the resistance level at 1.0199. RSI is trading within an overbought territory. | ||
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USDJPY | H4 | |
| Resistance | 119.17 | 119.75 | 120.36 |
| Support | 118.85 | 118.25 | 117.73 |
| Primary Scenario | The USDJPY pair turned back south, after violating the upper level of the cloud. A decisive movement to breach the support at 118.85 will push prices to test the next target at 118.25. Further drop of the market will bring the pair into a new bearish outlook. | ||
| Alternative Scenario | An upward wave would lead USDJPY to exceed the hurdle at 119.17 with immediate target the resistance level at 119.75. | ||
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AUDUSD | H4 | |
| Resistance | 0.8113 | 0.8146 | 0.8185 |
| Support | 0.8041 | 0.8002 | 0.7969 |
| Primary Scenario | AUDUSD is now testing the hurdle at 0.8146. A successful penetration of this level, will move the pair to eye the final resistance in line at 0.8185. | ||
| Alternative Scenario | A plunge of the market will push the pair to find support at 0.8113. | ||
The post USDCHF failed to penetrate the hurdle at 1.0115. appeared first on Forex Circles.
