USDCHF is trading near the previous top at 0.9734.

Posted On 10 May 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1408	1.1436	1.1453
Support	1.1364	1.1347	1.1320
Primary Scenario	EURUSD has tested the key support level at 1.1364. Should the pair manage to breach this level, it will find support at 1.1347 and then lower at 1.1320.
Alternative Scenario	A higher thrust of the market will lead the exchange rate above the daily pivot (1.1391), with immediate target the resistance at 1.1408.

	GBPUSD	H4
Resistance	1.4464	1.4523	1.4569
Support	1.4359	1.4314	1.4254
Primary Scenario	The pair is still inder pressure. Further drop of GBPUSD will pave the path down to 1.4359 and further down to 1.4314.
Alternative Scenario	On the other hand, an upward wave above the daily pivot at 1.4419 would lift the currency pair towards 1.4464.

	USDCHF	H4
Resistance	0.9734	0.9760	0.9786
Support	0.9683	0.9657	0.9631
Primary Scenario	USDCHF is trading near the previous top at 0.9734. A decisive movement upwards will lead the market to retest this level and a successful attempt to surpass higher will fuel the rate towards 0.9760 and even higher at 0.9786.
Alternative Scenario	A reversal back below the daily pivot point will push prices to find support at 0.9683.

	USDJPY	H4
Resistance	108.89	109.36	109.85
Support	108.72	108.21	107.84
Primary Scenario	The pair has just penetrated the upper level of the cloud (108.89). If USDJPY achieves to extend its momentum, the next resistance is estimated at 109.36 and then higher at 109.85.
Alternative Scenario	Alternatively, a plunge of the market below the key support at 108.72 will open the way down to 108.21.

	AUDUSD	H4
Resistance	0.7363	0.7412	0.7440
Support	0.7285	0.7257	0.7208
Primary Scenario	AUDUSD is following a downtrend. Any forceful movement to the south will lead the currency pair down to 0.7285 and even lower at 0.7257.
Alternative Scenario	A surge of the market above the daily pivot at 0.7335 will trigger the market to hit the resistance at 0.7363.

The post USDCHF is trading near the previous top at 0.9734. appeared first on FXTM Blog.

Source:: USDCHF is trading near the previous top at 0.9734.

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