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USDCHF is poised to eye fresh a high.
Posted On 08 Jan 2015
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| EURUSD | H4 | ||
| Resistance | 1.1888 | 1.1939 | 1.1982 |
| Support | 1.1794 | 1.1751 | 1.1700 |
| Primary Scenario | EURUSD hit a new low yesterday. Any decisive movement downwards will push prices below the key support at 1.1794 and further down to 1.1751. Do not ignore the RSI oscillator, which is trading within an oversold zone. | ||
| Alternative Scenario | An upward wave would bring the market into a correction course to breach the daily pivot point (1.1845). The next resistance is seen at 1.1888. | ||
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GBPUSD | H4 | |
| Resistance | 1.5157 | 1.5206 | 1.5257 |
| Support | 1.5057 | 1.5005 | 1.4956 |
| Primary Scenario | The pair has reached a multi-month low at 1.5057. If GBPUSD manages to breach this level, it will find support at 1.5005 and even lower at 1.4956. | ||
| Alternative Scenario | A bounce up from current levels, will most likely trigger the market to penetrate the daily pivot at 1.5105 and then higher at 1.5157. RSI oscillator supports this outlook. | ||
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USDCHF | H4 |  |
| Resistance | 1.0180 | 1.0218 | 1.0261 |
| Support | 1.0099 | 1.0056 | 1.0018 |
| Primary Scenario | USDCHF is poised to eye fresh a high. If the pair manages to withhold the sellers’ pressure, it will exceed the hurdle at 1.0180 targeting the forthcoming resistance level at 1.0218. | ||
| Alternative Scenario | Should the pair achieve to violate the daily pivot, the next support is seen at 1.0099. RSI oscillator is amounted at 77, trading within an overbought territory. | ||
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USDJPY | H4 | |
| Resistance | 119.81 | 120.34 | 120.73 |
| Support | 119.39 | 118.83 | 118.05 |
| Primary Scenario | The pair is now ready to retest the upper level of the cloud (119.81). A successful penetration of this level will lift the market towards the next resistance at 120.34. | ||
| Alternative Scenario | A comeback of the market will push USDJPY to find support at 119.39. | ||
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AUDUSD | H4 | |
| Resistance | 0.8099 | 0.8122 | 0.8156 |
| Support | 0.8042 | 0.8008 | 0.7985 |
| Primary Scenario | AUDUSD recovered from the previous low at 0.8042, after forming a double bottom. A sustained trading above the support level at 0.8099, will most likely put pressure to the currency pair to surpass the hurdle at 0.8122, with immediate target at 0.8156. | ||
| Alternative Scenario | A plunge of the market below the support at 0.8099 will open the way down towards the daily pivot at 0.8065. | ||
The post USDCHF is poised to eye fresh a high. appeared first on Forex Circles.
