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USDCHF: Still moving sideways.
Posted On 11 Feb 2015
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| EURUSD | H4 | ||
| Resistance | 1.1352 | 1.1385 | 1.1425 |
| Support | 1.1280 | 1.1240 | 1.1207 |
| Primary Scenario | EURUSD is hovering around the daily pivot point at 1.1312. An upward wave would lift the market to retest the resistance level at 1.1352. The next resistance is seen at 1.1385. | ||
| Alternative Scenario | A plunge of the market below the daily pivot, will push prices to find support at 1.1280. | ||
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GBPUSD | H4 |  |
| Resistance | 1.5286 | 1.5319 | 1.5364 |
| Support | 1.5207 | 1.5163 | 1.5129 |
| Primary Scenario | The pair is trading narrowly below the daily pivot (1.5241). Any forceful movement to the south will lead the exchange rate down to the support levels at 1.5207 and 1.5163. | ||
| Alternative Scenario | On the other hand, a successful attempt to penetrate the daily pivot will fuel the pair to reach the resistance at 1.5286. | ||
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USDCHF | H4 | |
| Resistance | 0.9287 | 0.9313 | 0.9350 |
| Support | 0.9223 | 0.9186 | 0.9160 |
| Primary Scenario | USDCHF is still moving sideways. If the pair manages to withstand the sellers’ pressure, it will climb towards the hurdle at 0.9287. A surpass of this level, will generate strength for the market to target the forthcoming resistance at 0.9313. | ||
| Alternative Scenario | Should the pair manage to breach the daily pivot, the next support is seen at 0.9223. | ||
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USDJPY | H4 | |
| Resistance | 119.66 | 119.95 | 120.73 |
| Support | 119.22 | 118.97 | 118.31 |
| Primary Scenario | USDJPY is negotiating near the previous high. A higher thrust of the market will lead the currency pair to exceed the resistance at 119.66, into fresh highs, targeting the next resistance level at 119.95 and even higher at 120.73. | ||
| Alternative Scenario | A reversal back of the USDJPY pair will bring the market into a correction phase towards the support levels at 119.22 and 118.97. | ||
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AUDUSD | H4 | |
| Resistance | 0.7823 | 0.7879 | 0.7918 |
| Support | 0.7729 | 0.7691 | 0.7635 |
| Primary Scenario | The pair is oscillating around the daily pivot at 0.7785. A decisive movement downwards will push the pair to find support at 0.7729 and further down to 0.7691. | ||
| Alternative Scenario | Alternatively, a successful attempt to surpass the daily pivot will lead the rate towards the resistance level at 0.7823. | ||
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