USDCHF is trading near the previous top.

Posted On 27 Oct 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1079	1.1105	1.1143
Support	1.1014	1.0976	1.0950
Primary Scenario	EURUSD bounced up from the previous bottom and is now heading towards the resistance level at 1.1079. A surge of the market above this level will most likely lead the pair towards the resistance level at 1.1105 and even higher at 1.1143.
Alternative Scenario	A break back below the daily pivot point at 1.1041 will open the way down to 1.1014.

	GBPUSD	H4
Resistance	1.5384	1.5420	1.5459
Support	1.5308	1.5269	1.5233
Primary Scenario	The pair is negotiating above the daily pivot (1.5344). If GBPUSD manages to extend its correction course, the next resistance is seen at 1.5384 and further up to 1.5420.
Alternative Scenario	On the other hand, a plunge of the market below the daily pivot will push prices down to 1.5308.

	USDCHF	H4
Resistance	0.9856	0.9888	0.9938
Support	0.9774	0.9724	0.9692
Primary Scenario	USDCHF is trading near the previous top. If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance levels at 0.9856 and 0.9888.
Alternative Scenario	A comeback of the currency pair below the daily pivot (0.9806) will lead the rate to find support at 0.9774. RSI oscillator supports this outlook.

	USDJPY	H4
Resistance	120.79	121.47	122.01
Support	120.47	120.04	119.40
Primary Scenario	The pair is following an uptrend. A successful attempt to penetrate the hurdle in line at 120.79 will trigger the market to target the forthcoming resistance at 121.47.
Alternative Scenario	Alternatively, should USDJPY achieve to breach the support level at 120.47 will pave the path down to 120.04.

	AUDUSD	H4
Resistance	0.7272	0.7302	0.7335
Support	0.7210	0.7177	0.7147
Primary Scenario	AUDUSD is oscillating around the daily pivot at 0.7239. A decisive movement to the north will fuel the pair to hit the resistance level at 0.7272 and then higher at 0.7302.
Alternative Scenario.	A setback of the exchange rate would push the market to violate the daily pivot, targeting the support level at 0.7210.

The post USDCHF is trading near the previous top. appeared first on Forex Circles.

Source:: USDCHF is trading near the previous top.

About the Author

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we will ensure that their individual needs are always met as markets continue to evolve over time. Visit ForexTime to learn more www.forextime.com [space height="20"] [social type="facebook"]https://www.facebook.com/ForexTime[/social] [social type="twitter"]https://twitter.com/ItsForexTime[/social] [social type="google-plus"]https://plus.google.com/u/0/+ForextimeFXTM/posts[/social] [social type="youtube"]https://www.youtube.com/user/ItsForexTime[/social]