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USDCHF is now testing the key resistance at 0.9263.
Posted On 02 Feb 2015
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GBPUSD | H4 |  |
| Resistance | 1.5106 | 1.5154 | 1.5213 |
| Support | 1.4999 | 1.4940 | 1.4892 |
| Primary Scenario | The pair bounced up from the previous bottom, before closing above the daily pivot at 1.5047. A successful attempt to move higher will most likely generate strength for GBPUSD to penetrate the hurdle at 1.5106, targeting the next resistance at 1.5154. | ||
| Alternative Scenario | A comeback of the pair below the daily pivot will push prices to find support at 1.4999. | ||
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USDCHF | H4 | |
| Resistance | 0.9263 | 0.9335 | 0.9382 |
| Support | 0.9144 | 0.9096 | 0.9024 |
| Primary Scenario | USDCHF is now testing the key resistance at 0.9263. If the bulls manage to take control and exceed this hurdle, it will climb towards the resistance level at 0.9335 and then higher at 0.9382. | ||
| Alternative Scenario | A plunge of the market will lead the pair to reach the daily pivot at 0.9215 and even lower at 0.9144. | ||
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USDJPY | H4 | |
| Resistance | 118.02 | 118.48 | 118.81 |
| Support | 117.34 | 116.93 | 116.61 |
| Primary Scenario | USDJPY is oscillating within the cloud. An upward wave would fuel the pair to surpass the upper level of the Kumo (118.02), with immediate target the resistance level at 118.48. | ||
| Alternative Scenario | On the other hand, a tumble of the currency pair will push the market lower down to the support level at 117.34. | ||
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AUDUSD | H4 | |
| Resistance | 0.7793 | 0.7828 | 0.7859 |
| Support | 0.7726 | 0.7695 | 0.7660 |
| Primary Scenario | AUDUSD is poised to penetrate the key resistance at 0.7793. If that happens, the next resistance is seen at 0.7828 and then higher at 0.7859. | ||
| Alternative Scenario | Should the pair manage to breach the daily pivot (0.7761), it will find support at 0.7726. | ||
The post USDCHF is now testing the key resistance at 0.9263. appeared first on Forex Circles.
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