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USDCHF is hovering above the daily pivot.
Posted On 03 Feb 2015
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| EURUSD | H4 | ||
| Resistance | 1.1370 | 1.1400 | 1.1439 |
| Support | 1.1300 | 1.1261 | 1.1230 |
| Primary Scenario | EURUSD is oscillating around the daily pivot point at 1.1330. A downward wave to the south will push the pair to find support at 1.1300 and further down to 1.1261. | ||
| Alternative Scenario | On the other hand, a successful surpass above the daily pivot will lift the exchange rate towards the resistance level at 1.1370. | ||
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GBPUSD | H4 | |
| Resistance | 1.5088 | 1.5138 | 1.5180 |
| Support | 1.4996 | 1.4954 | 1.4904 |
| Primary Scenario | The pair is poised to retest the key support at 1.4996. If GBPUSD manages to breach this level, it will target the forthcoming support at 1.4954. | ||
| Alternative Scenario | A failed attempt to move lower will lead the market to reach the daily pivot at 1.5046 and further up at 1.5088. | ||
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USDCHF | H4 |  |
| Resistance | 0.9346 | 0.9417 | 0.9490 |
| Support | 0.9203 | 0.9129 | 0.9059 |
| Primary Scenario | USDCHF is hovering slightly above the daily pivot (0.9273). A decisive movement to the north will trigger the market to climb towards the resistance levels at 0.9346 and 0.9417. | ||
| Alternative Scenario | A plunge of the market below the daily pivot will open the way down to the support level at 0.9203. | ||
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USDJPY | H4 | |
| Resistance | 117.34 | 117.67 | 118.02 |
| Support | 116.86 | 116.32 | 115.83 |
| Primary Scenario | The bears took the control yesterday, and managed to push USDJPY to exit the Kumo. Should the pair manage to breach the key support at 116.86, it will drop further towards the forthcoming support at 116.32. | ||
| Alternative Scenario | Alternatively, an upside momentum will lead the pair to reach the resistance level at 117.34. | ||
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AUDUSD | H4 | |
| Resistance | 0.7837 | 0.7874 | 0.7919 |
| Support | 0.7756 | 0.7711 | 0.7674 |
| Primary Scenario | AUDUSD has cleared all the given supports, after a strong movement downwards. The next support is estimated at 0.7576 (Fibonacci support level 261.8%). | ||
| Alternative Scenario | A higher thrust of the pair will push the market to penetrate the resistance at 0.7674 and even higher at 0.7711. | ||
The post USDCHF is hovering above the daily pivot. appeared first on Forex Circles.
