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USDCHF is heading to the support level at 0.9624.
Posted On 10 Nov 2014
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| EURUSD | H4 | ||
| Resistance | 1.2495 | 1.2537 | 1.2606 |
| Support | 1.2384 | 1.2316 | 1.2273 |
| Primary Scenario | EURUSD bounce up from the previous low and it is now heading to the resistance level at 1.2495. A successful surpass of this level will lead the market to reach the next target at 1.2537. | ||
| Alternative Scenario | A setback of the pair, will push prices to find support at the daily pivot point at 1.2426. | ||
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GBPUSD | H4 | |
| Resistance | 1.5906 | 1.5944 | 1.6002 |
| Support | 1.5811 | 1.5752 | 1.5715 |
| Primary Scenario | The pair recovered from the previous bottom and managed to clear the key resistance at 1.5906. A sustained trading above this level, will generate strength for the market to hit the next resistance at 1.5944 and then higher at 1.6002. | ||
| Alternative Scenario | A plunge of the market will push prices below the support at 1.5906 and further lower at the daily pivot (1.5848). | ||
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USDCHF | H4 |  |
| Resistance | 0.9715 | 0.9773 | 0.9805 |
| Support | 0.9624 | 0.9592 | 0.9534 |
| Primary Scenario | USDCHF is heading to the support level at 0.9624. A decisive movement downwards will eliminate this barrier, targeting the support at 0.9592 and further down to 0.9534. | ||
| Alternative Scenario | An upside momentum will trigger the market to hit the daily pivot (0.9682) and even higher at 0.9715. | ||
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USDJPY | H4 | |
| Resistance | 114.35 | 114.76 | 115.56 |
| Support | 113.95 | 113.54 | 113.16 |
| Primary Scenario | USDJPY is poised to breach the important support at 113.95. If this happens, it will open the way towards the next levels at 113.54 and 113.16. | ||
| Alternative Scenario | A higher thrust of the pair, will lift the currency rate up to the hurdle at 114.35 and even higher at 114.76. | ||
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AUDUSD | H4 | |
| Resistance | 0.8679 | 0.8726 | 0.8796 |
| Support | 0.8563 | 0.8493 | 0.8447 |
| Primary Scenario | The pair is now testing the resistance level at 0.8679. If AUDUSD manages to withstand the sellers’ pressure, it will climb towards the resistance at 0.8726 and 0.8796. | ||
| Alternative Scenario | A reversal back of the exchange rate, will push prices to find support at the daily pivot at 0.8610. | ||
The post USDCHF is heading to the support level at 0.9624. appeared first on Forex Circles.
