Previous Story
USDCHF has discovered fresh highs.
| EURUSD | H4 | ||
| Resistance | 1.0630 | 1.0668 | 1.0700 |
| Support | 1.0561 | 1.0530 | 1.0492 |
| Primary Scenario | EURUSD is trading below the daily pivot point (1.0599). Should the pair manages to violate the key support level at 1.0561, it will drop further towards the support level at 1.0530. | ||
| Alternative Scenario | An upward wave would lift the exchange rate above the daily pivot, with immediate target the resistance level at 1.0630. | ||
 |
GBPUSD | H4 | |
| Resistance | 1.5083 | 1.5135 | 1.5162 |
| Support | 1.5005 | 1.4978 | 1.4926 |
| Primary Scenario | The pair is still negotiating below the daily pivot point at 1.5056. If the bears achieve to take control of the bulls, GBPUSD will breach the level at 1.5005, targeting the support at 1.4978 and further down to 1.4926. | ||
| Alternative Scenario | On the other hand, a bounce up from current levels will generate strength for the market to exceed the daily pivot. The next resistance is seen at 1.5083. | ||
 |
USDCHF | H4 |  |
| Resistance | 1.0338 | 1.0384 | 1.0440 |
| Support | 1.0236 | 1.0179 | 1.0133 |
| Primary Scenario | USDCHF has discovered fresh highs. If the pair manages to extend its uptrend, it will climb towards the resistance level at 1.0338 and even higher at 1.0384. | ||
| Alternative Scenario | A plunge of the market below the daily pivot (1.0281) will push prices to find support at 1.0236. RSI oscillator supports this outlook. | ||
 |
USDJPY | H4 | |
| Resistance | 122.97 | 123.25 | 123.73 |
| Support | 122.59 | 122.29 | 121.91 |
| Primary Scenario | The pair is moving sideways below the Kumo. A decisive movement to the south will lead USDJPY to eliminate the support level at 122.59. The next support is estimated at 122.29. | ||
| Alternative Scenario | Alternatively, if the pair manages to withstand the sellers’ pressure, it will attempt to penetrate the resistance at 122.97, opening the way up to 123.25. | ||
 |
AUDUSD | H4 | |
| Resistance | 0.7223 | 0.7258 | 0.7278 |
| Support | 0.7169 | 0.7149 | 0.7114 |
| Primary Scenario | AUDUSD has tested the support level at 0.7169. A tumble of the currency pair will lead the market to retest this level, and a break back below will pave the path down to 0.7149. | ||
| Alternative Scenario. | A successful attempt to surpass the daily pivot (0.7203) will fuel the pair to hit the hurdle in line at 0.7223. | ||
The post USDCHF has discovered fresh highs. appeared first on FXTM Blog.
Source:: USDCHF has discovered fresh highs.
