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USDCHF is trading near the previous high at 0.9335.
Posted On 17 Feb 2015
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| EURUSD | H4 | ||
| Resistance | 1.1414 | 1.1476 | 1.1523 |
| Support | 1.1304 | 1.1257 | 1.1195 |
| Primary Scenario | EURUSD is trading on the daily pivot point at 1.1366. A decisive movement to the north will generate strength for the market to retest the hurdle at 1.1414. The next resistance is seen at 1.1476. | ||
| Alternative Scenario | A plunge of the market will push prices to find support at 1.1304. | ||
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GBPUSD | H4 |  |
| Resistance | 1.5422 | 1.5481 | 1.5523 |
| Support | 1.5321 | 1.5279 | 1.5219 |
| Primary Scenario | Having reversed from the previous top, GBPUSD is negotiating narrowly below the daily pivot at 1.5380. Further drop of the pair will most likely lead the exchange rate towards the support levels at 1.5321 and 1.5279. | ||
| Alternative Scenario | An upward wave would lift the market above the daily pivot and even higher at 1.5422. | ||
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USDCHF | H4 | |
| Resistance | 0.9335 | 0.9353 | 0.9379 |
| Support | 0.9290 | 0.9264 | 0.9246 |
| Primary Scenario | USDCHF is trading near the previous high at 0.9335. If the bulls manage and take control of the bears, it will exceed this level, targeting the forthcoming resistance at 0.9353 and then higher at 0.9379. | ||
| Alternative Scenario | Alternatively, a reversal back below the daily pivot, will push the pair to find support at 0.9290. | ||
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USDJPY | H4 | |
| Resistance | 118.67 | 119.18 | 119.87 |
| Support | 118.24 | 117.84 | 117.35 |
| Primary Scenario | The pair is trading within the Kumo. A higher thrust of USDJPY will trigger the market to surpass the upper level of the cloud, with immediate target the resistance level at 119.18. | ||
| Alternative Scenario | On the other hand, if the pair manages to breach the support level at 118.24, it will open the way down to 117.84. | ||
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AUDUSD | H4 | |
| Resistance | 0.7792 | 0.7814 | 0.7835 |
| Support | 0.7748 | 0.7727 | 0.7705 |
| Primary Scenario | AUDUSD finally managed to penetrate the hurdle at 0.7792. If the pair manages to extend its uptrend it will keep rising towards the resistance at 0.7814 and further up at 0.7835. | ||
| Alternative Scenario | A comeback of the pair will lead the currency pair below the support at 0.7792 and even lower at 0.7771 (daily pivot point). | ||
The post USDCHF is trading near the previous high at 0.9335. appeared first on Forex Circles.
Source:: USDCHF is trading near the previous high at 0.9335.
