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AUDUSD cleared key supports.

FXTM

Published on February 12, 2015, 06:27 GMT
www.forextime.com

	EURUSD	H4
Resistance	1.1360	1.1386	1.1427
Support	1.1294	1.1253	1.1227
Primary Scenario	The trend has been neutral in the previous sessions. Any purposeful movement to the south, to violate the barrier at 1.1294 will open the way down to the forthcoming support at 1.1253.
Alternative Scenario	A surge of EURUSD above the daily pivot at 1.1320, will lift the market towards the resistance level at 1.1360.

	GBPUSD	H4
Resistance	1.5283	1.5331	1.5364
Support	1.5202	1.5170	1.5122
Primary Scenario	GBPUSD is moving sideways. A drop of the pair below the key support level at 1.5202 will most likely push the market lower at 1.5170.
Alternative Scenario	An upward wave would act as a catalyst for the exchange rate to penetrate the daily pivot (1.5250) and to climb towards the resistance level at 1.5283.

	USDCHF	H4
Resistance	0.9310	0.9340	0.9380
Support	0.9239	0.9198	0.9168
Primary Scenario	The pair finally managed to surpass the daily pivot point at 0.9269. A sustained trading above this level will trigger the market to retest and exceed the hurdle at 0.9310, with immediate target the next resistance at 0.9340.
Alternative Scenario	A setback of the pair will push prices below the daily pivot to find support at 0.9239.

	USDJPY	H4
Resistance	120.47	120.80	121.60
Support	119.88	119.22	118.82
Primary Scenario	USDJPY is negotiating near the previous top at 120.47. If the pair manages to extend its uptrend, it will eye the resistance levels at 120.47 and then higher at 120.80.
Alternative Scenario	A reversal back of the market will lead the pair to find support at 119.88.

	AUDUSD	H4
Resistance	0.7775	0.7834	0.7875
Support	0.7674	0.7633	0.7574
Primary Scenario	The pair has violated the daily pivot point (0.7734) and then cleared the support level at 0.7674. Should the pair manage to breach the support level at 0.7633, the next support level is seen at 0.7574.
Alternative Scenario	On the other hand, an attempt to penetrate the resistance at 0.7674 will generate strength for AUDUSD to target the daily pivot at 0.7734. RSI oscillator supports this outlook.

The post AUDUSD cleared key supports. appeared first on Forex Circles.

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