AUDUSD intends to extend its correction.

EURUSD Technical Analysis
Primary ScenarioEURUSD is pivoting around the daily pivot at 1.1123. A decisive thrust of the hurdle at 1.1168 will fuel the pair higher to hit the resistance level at 1.1224.
Alternative ScenarioOn the other hand, a drop of the market below the daily pivot will push prices to find support at 1.1066.


GBPUSD Technical AnalysisGBPUSDH4
Primary ScenarioA strong bullish momentum led GBPUSD to clear the daily pivot (1.5628). If the pair achieves to extend its momentum, it will climb towards the resistance levels at 1.5731 and 1.5802.
Alternative ScenarioA plunge of the exchange rate below the daily pivot point will lead the market to hit the support level at 1.5556.


USDCHF Technical AnalysisUSDCHFH4
Primary ScenarioUSDCHF has been trapped between the support level at 0.9321 and the resistance level at 0.9396. A bounce up from current levels will lead the market to retest and penetrate the barrier at 0.9396, with immediate target the resistance level at 0.9426.
Alternative ScenarioA tumble of the market will open the way down to 0.9321.


USDJPY Technical AnalysisUSDJPYH4
Primary ScenarioThe market is now testing the key support at 120.69. An upward wave would trigger the market to exceed the resistance at 121.02, targeting the previous top at 121.47.
Alternative ScenarioShould USDJPY manage to breach the support at 120.69, the next support is seen at 120.35.


AUDUSD Technical AnalysiAUDUSDH4
Primary ScenarioAUDUSD intends to extend its correction. If the pair manages to withstand the sellers’ pressure, it will target the resistance at 0.7937 and even higher at 0.7961.
Alternative ScenarioA reversal back below the now-support at 0.7914 will push the pair to down to the daily pivot point at 0.7889.


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