USDCHF is now poised to retest the hurdle at 0.8831.

EURUSD Technical Analysis
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.


GBPUSD Technical Analysis GBPUSD H4 Up Trend
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.


USDCHF Technical Analysis USDCHF H4 Up Trend
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.


USDJPY Technical Analysis USDJPY H4 Up Trend
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.


AUDUSD Technical Analysi 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.

About the Author
Forex Alchemy is your daily source of cutting edge information, tips, tools, articles, analysis from across the Forex trading industry. If you would like to guest post or contribute regular articles on Forex Alchemy then please contact us here.

Leave a Reply