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AUDUSD: Bullish momentum.

FXTM

Published on April 16, 2015, 05:32 GMT
www.forextime.com

	EURUSD	H4
Resistance	1.0732	1.0782	1.0863
Support	1.0602	1.0521	1.0471
Primary Scenario	EURUSD has tested the hurdle at 1.0732. A decisive thrust of this critical resistance will most likely fuel the pair further towards the next target in line at 1.0782 and even higher at 1.0863.
Alternative Scenario	A comeback of the currency pair will push the market below the daily pivot (1.0651) and then lower at 1.0602.

	GBPUSD	H4
Resistance	1.4895	1.4950	1.5047
Support	1.4742	1.4645	1.4590
Primary Scenario	The pair managed to penetrate the daily pivot at 1.4797 yesterday. Should GBPUSD achieve to keep its momentum, it will exceed the resistance at 1.4895, targeting the forthcoming level at 1.4950.
Alternative Scenario	A reversal back below the daily pivot will pave the path towards the support level at 1.4742.

	USDCHF	H4
Resistance	0.9729	0.9817	0.9864
Support	0.9594	0.9546	0.9458
Primary Scenario	USDCHF tumbled and reached the support at 0.9594. Further drop of the market will push prices lower towards the support level at 0.9546.
Alternative Scenario	On the other hand, an upward wave would lead the pair to surpass the daily pivot point (0.9682) and further up at 0.9729.

	USDJPY	H4
Resistance	119.45	119.72	120.05
Support	119.06	118.78	118.32
Primary Scenario	USDJPY is trading below the cloud. Any decisive movement to the south will push prices to slide down to the support level at 119.06 and 118.78.
Alternative Scenario	Alternatively, if the pair manages to penetrate the resistance at 119.45, it will target the lower level of the Kumo at 119.72.

	AUDUSD	H4
Resistance	0.7729	0.7778	0.7857
Support	0.7600	0.7521	0.7471
Primary Scenario	A strong bullish movement led AUDUSD to clear the daily pivot point (0.7649) and the resistance level at 0.7729. If the steam of the pair remains intact, it will exceed the barrier at 0.7778, targeting the next resistance at 0.7857.
Alternative Scenario	A plunge of the exchange rate will push the pair to breach the support level at 0.7729, falling further down to 0.7649.

The post AUDUSD: Bullish momentum. appeared first on Forex Circles.

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