USDCHF is trading near the previous top at 0.9930.

Posted On 20 May 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1227	1.1253	1.1277
Support	1.1177	1.1153	1.1127
Primary Scenario	EURUSD is sligthly trading below the daily pivot point at 1.1203. A decisive movement to the south will lead the pair to retest the support level at 1.1177. A break back below this level will open the way down to 1.1153.
Alternative Scenario	An upward wave above the daily pivot will lift the currency pair towards 1.1227.

	GBPUSD	H4
Resistance	1.4660	1.4712	1.4761
Support	1.4558	1.4508	1.4456
Primary Scenario	The pair is gyrating the daily pivot at 1.4610. A tumble of the market below the barrier at 1.4558 will push GBPUSD down to 1.4508.
Alternative Scenario	On the other hand, a successful attempt to surpass the daily pivot will fuel the pair to hit the resistance at 1.4660.

	USDCHF	H4
Resistance	0.9930	0.9956	0.9990
Support	0.9870	0.9836	0.9810
Primary Scenario	USDCHF is trading near the previous top at 0.9930. If the pair manages to penetrate this level, the next resistance is seen at 0.9956 and then higher at 0.9990.
Alternative Scenario	A reversal back below the daily pivot (0.9896) will pave the path down to 0.9870. RSI oscillator supports this outlook.

	USDJPY	H4
Resistance	110.34	110.99	111.87
Support	109.64	108.94	108.21
Primary Scenario	The pair is heading towards the hurdle at 110.34. A successful attempt to exceed this level will most likely lead the exchange rate to hit the forthcoming resistance at 110.99.
Alternative Scenario	Alternatively, a downward wave would push USDJPY below the key support at 109.64, targeting the upper level of the Kumo at 108.94.

	AUDUSD	H4
Resistance	0.7253	0.7280	0.7319
Support	0.7187	0.7148	0.7121
Primary Scenario	AUDUSD bounced up from the previous bottom and is now negotiating above the daily pivot (0.7214). Further correction of the market will lead the pair to retest the hurdle at 0.7253 and further up to 0.7280.
Alternative Scenario	Should the pair achieve to breach the daily pivot, it will find support at 0.7187.

The post USDCHF is trading near the previous top at 0.9930. appeared first on FXTM Blog.

Source:: USDCHF is trading near the previous top at 0.9930.

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]