USDCHF’s reaction, after the previous week plunge.

Posted On 19 Jan 2015
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EURUSD Technical Analysis
Resistance 1.1655 1.1745 1.1843
Support 1.1467 1.1369 1.1278
Primary Scenario EURUSD bounced up from the previous bottom and it is now trading above the daily pivot at 1.1557. A further correction of the market will most likely lead the pair towards the resistance level at 1.1655 and even higher at 1.1745. RSI oscillator supports this scenario.
Alternative Scenario A setback of the exchange rate below the daily pivot, will push prices to find support at 1.1467.


GBPUSD Technical Analysis GBPUSD H4 Down Trend
Resistance 1.5229 1.5311 1.5388
Support 1.5070 1.4993 1.4911
Primary Scenario The pair is negotiating slightly below the daily pivot point (1.5152). A decisive movement downwards will lead the market to retest the support level at 1.5070 and then lower at 1.4993.
Alternative Scenario An upward wave would lift the market above the daily pivot with immediate target the hurdle at 1.5229.


USDCHF Technical Analysis USDCHF H4
Resistance 0.8800 0.9019 0.9232
Support 0.8369 0.8156 0.7937
Primary Scenario After USDCHF’s previous week plunge, the pair is now oscillating around the daily pivot at 0.8587. Any forceful movement to the north will trigger the market to target the resistance levels at 0.8800 and 0.9019. RSI oscillator is trading within an oversold territory.
Alternative Scenario A drop of the pair below the daily pivot, will open the way down to 0.8369.


USDJPY Technical Analysis USDJPY H4 Down Trend
Resistance 117.30 117.76 118.64
Support 116.91 116.33 115.85
Primary Scenario The currency pair is still negotiating below the Kumo. A sustained trading below the resistance level at 117.30, will push prices to breach the support at 116.91. If that happens, USDJPY will target the forthcoming support at 116.33.
Alternative Scenario A successful attempt to penetrate the hurdle at 117.30 will fuel the pair further towards the next resistance at 117.76.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.8260 0.8301 0.8347
Support 0.8174 0.8128 0.8087
Primary Scenario AUDUSD is pivoting around the daily pivot (0.8214). A bounce up from current levels will lead the pair to retest the hurdle at 0.8260. A successful penetration of this level will pave the way up to the next target at 0.8301.
Alternative Scenario Should the pair manage to break the daily pivot, the next support is seen at 0.8174.


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Source:: USDCHF’s reaction, after the previous week plunge.

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