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USDCHF topped up at 0.9342, before closing below the daily pivot.
Posted On 13 Feb 2015
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| EURUSD | H4 | ||
| Resistance | 1.1449 | 1.1496 | 1.1569 |
| Support | 1.1328 | 1.1254 | 1.1208 |
| Primary Scenario | EURUSD is now heading towards the key resistance level at 1.1449. A successful attempt to surpass this level will generate strength for the market to target the resistances at 1.1496 and even higher at 1.1569. | ||
| Alternative Scenario | A setback of the pair will push prices to find support at the daily pivot point at 1.1375 and further down to 1.1328. | ||
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GBPUSD | H4 | |
| Resistance | 1.5461 | 1.5540 | 1.5666 |
| Support | 1.5256 | 1.5129 | 1.5050 |
| Primary Scenario | A strong movement upwards led the pair into fresh highs. If the pair manages to extend its momentum, it will penetrate the hurdle at 1.5461, with immediate targets the resistance levels at 1.5540 and 1.5666. | ||
| Alternative Scenario | On the other hand, a plunge of GBPUSD will open the way down to the daily pivot (1.5335) and then lower at 1.5256. RSI is amounted above 70, trading within an overbought territory. | ||
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USDCHF | H4 |  |
| Resistance | 0.9342 | 0.9379 | 0.9422 |
| Support | 0.9262 | 0.9219 | 0.9183 |
| Primary Scenario | USDCHF topped up at 0.9342, before closing below the daily pivot at 0.9299. A deeper correction of the exchange rate will most likely push the pair to find support at 0.9262 and then lower at 0.9219. | ||
| Alternative Scenario | Alternatively, an upward wave would lead the pair above the daily pivot to retest the previous top. | ||
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USDJPY | H4 | |
| Resistance | 119.15 | 119.87 | 120.47 |
| Support | 118.12 | 117.36 | 116.87 |
| Primary Scenario | The pair is poised to test the support at the cloud (118.12). A bounce up from current levels will trigger the market to exceed the hurdle at 119.15. The next resistance is seen at 119.87. | ||
| Alternative Scenario | If USDJPY manages to breach the support at the Kumo, it will fall further towards the support level at 117.36. | ||
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AUDUSD | H4 | |
| Resistance | 0.7792 | 0.7852 | 0.7926 |
| Support | 0.7658 | 0.7583 | 0.7523 |
| Primary Scenario | AUDUSD is now testing the resistance level at 0.7792. Should the pair manage to penetrate this level, it will fuel the pair further towards the resistances at 0.7852 and 0.7926. | ||
| Alternative Scenario | A comeback of the market, will push prices to find support at the daily pivot (0.7718). | ||
The post USDCHF topped up at 0.9342, before closing below the daily pivot. appeared first on Forex Circles.
Source:: USDCHF topped up at 0.9342, before closing below the daily pivot.
