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USDCHF is now poised to retest the hurdle at 0.8831.
Posted On 26 Jan 2015
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| EURUSD | H4 | ||
| Resistance | 1.1345 | 1.1489 | 1.1604 |
| Support | 1.1087 | 1.0971 | 1.0828 |
| Primary Scenario | EURUSD plunged into fresh lows and reached the support level at 1.1087. Further drop of the pair will push prices to breach this level, targeting the support at 1.0971. | ||
| Alternative Scenario | Should the pair manage to penetrate the daily pivot at 1.1230, it will climb towards the resistance level at 1.1345. RSI supports this outlook. | ||
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GBPUSD | H4 |  |
| Resistance | 1.5032 | 1.5075 | 1.5116 |
| Support | 1.4948 | 1.4908 | 1.4864 |
| Primary Scenario | The pair bounced up from the previous low and it is now trading above the daily pivot (1.4991). If GBPUSD avhieves to withstand the sellers’ pressure,it will move north towards the resistance levels at 1.5032 and 1.5075. | ||
| Alternative Scenario | A comeback of the market below the daily pivot, it will open the way down to 1.4948. | ||
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USDCHF | H4 | |
| Resistance | 0.8831 | 0.8891 | 0.8967 |
| Support | 0.8694 | 0.8618 | 0.8558 |
| Primary Scenario | USDCHF is now poised to retest the hurdle at 0.8831. A successful attempt to surpass this barrier, will most likely lift the rate higher up to the resistance level at 0.8891. The next resistance is seen at 0.8967. | ||
| Alternative Scenario | If the pair falls below the daily pivot, it will find support at 0.8694. | ||
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USDJPY | H4 | |
| Resistance | 117.90 | 118.59 | 119.32 |
| Support | 117.16 | 116.63 | 115.85 |
| Primary Scenario | USDJPY intends to penetrate the upper level of the cloud. If that happens, it will trigger the market to target the resistance level at 118.59. | ||
| Alternative Scenario | A setback of the market, lead the pair deeper in the Kumo towards the support level at 117.16. | ||
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AUDUSD | H4 | |
| Resistance | 0.8012 | 0.8117 | 0.8184 |
| Support | 0.7841 | 0.7775 | 0.7670 |
| Primary Scenario | AUDUSD is now heading towards the support level at 0.7841. A break back below this level will push the pair lower down to 0.7775. | ||
| Alternative Scenario | On the other hand, a higher thrust of the pair will fuel the market further towards the daily pivot (0.7946) and even higher at 0.8012. RSI is trading within an oversold territory. | ||
The post USDCHF is now poised to retest the hurdle at 0.8831. appeared first on Forex Circles.
Source:: USDCHF is now poised to retest the hurdle at 0.8831.
