USDCHF is following a correction course.

Posted On 02 Apr 2015

Tag: EURUSD, GBPUSD, Support & Resistance, USDAUD, USDCHF

	EURUSD	H4
Resistance	1.0801	1.0841	1.0882
Support	1.0720	1.0679	1.0639
Primary Scenario	EURUSD is gyrating the daily pivot point at 1.0760. A decisive thrust above the hurdle at 1.0801 will generate strength for the exchange rate to target the resistance level at 1.0841.
Alternative Scenario	A comeback of the market will push the pair below the daily pivot, with immediate target the support level at 1.0720.

	GBPUSD	H4
Resistance	1.4882	1.4942	1.5014
Support	1.4750	1.4678	1.4618
Primary Scenario	The pair is oscillating around the daily pivot (1.4810). If GBPUSD manages to withhold the sellers’ pressure, it will climb towards the resistance level at 1.4882 and even higher at 1.4942.
Alternative Scenario	A plunge of the pair below the daily pivot will open the way down to 1.4750.

	USDCHF	H4
Resistance	0.9724	0.9782	0.9822
Support	0.9626	0.9586	0.9528
Primary Scenario	USDCHF is following a correction course. If the pair achieves to extend its bearish momentum, it will drop further towards the support levels at 0.9626 and 0.9586.
Alternative Scenario	An upward wave would fuel the pair to penetrate the daily pivot, with immediate target the resistance at 0.9724.

	USDJPY	H4
Resistance	119.91	120.39	120.95
Support	119.40	119.02	118.32
Primary Scenario	The USDJPY pair is trading within the cloud. An upside momentum will trigger the market to exceed the upper level of the Kumo (119.91). If that happens, the next resistance is seen at 120.39.
Alternative Scenario	On the other hand, a successful breach of the support at 119.40 will push the pair to find support at 119.02.

	AUDUSD	H4
Resistance	0.7646	0.7694	0.7727
Support	0.7565	0.7533	0.7485
Primary Scenario	AUDUSD has plunged into fresh lows. If the pair manages to extend its downtrend, it will retest the support level at 0.7565 and fall further towards the next target in line at 0.7533.
Alternative Scenario	Should the pair achieve to surpass the daily pivot (0.7614), it will target the resistance level at 0.7646.

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Source:: USDCHF is following a correction course.

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