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AUDUSD is ranging around the daily pivot point.
| EURUSD | H4 | ||
| Resistance | 1.1323 | 1.1449 | 1.1519 |
| Support | 1.1127 | 1.1057 | 1.0931 |
| Primary Scenario | EURUSD tumbled on yesterday’s session. A sustained trading below the daily pivot at 1.1253 will most likely lead the market to test the support level at 1.1127 and then lower at 1.1057. | ||
| Alternative Scenario | A higher thrust of the exchange rate will trigger the market to penetrate the daily pivot. The next resistance is seen at 1.1323. | ||
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GBPUSD | H4 | |
| Resistance | 1.5506 | 1.5608 | 1.5664 |
| Support | 1.5348 | 1.5292 | 1.5190 |
| Primary Scenario | The pair is trading narrowly below the daily pivot (1.5450). A decisive movement to the south will push GBPUSD to find support at 1.5348 and even lower at 1.5292. | ||
| Alternative Scenario | A successful surpass above the daily pivot point will lift the currency pair to retest the hurdle at 1.5506. | ||
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USDCHF | H4 | |
| Resistance | 0.9563 | 0.9603 | 0.9660 |
| Support | 0.9466 | 0.9409 | 0.9369 |
| Primary Scenario | The trend has been overall neutral during the week. A plunge of the pair would push prices to hit the support at 0.9466 and further down to 0.9409. | ||
| Alternative Scenario | An upward wave will generate strength for USDCHF to exceed the daily pivot (0.9506), targeting the resistance at 0.9563. | ||
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USDJPY | H4 |  |
| Resistance | 119.49 | 119.83 | 120.47 |
| Support | 119.08 | 118.77 | 118.29 |
| Primary Scenario | USDJPY edged up at 119.49, before closing within the Kumo. Any forceful movement to the north would act as a catalyst for the market to penetrate the upper level of the cloud and the hurdle at 119.49. The next resistance is estimated at 119.83. | ||
| Alternative Scenario | A drop of the pair below the support at 119.08 will lead the exchange rate towards the support level at 118.77. | ||
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AUDUSD | H4 | |
| Resistance | 0.7878 | 0.7958 | 0.8005 |
| Support | 0.7751 | 0.7704 | 0.7624 |
| Primary Scenario | AUDUSD is ranging around the daily pivot point at 0.7831. If the pair manages to extend its momentum, it will retest the support level at 0.7751 and further down at 0.7704. | ||
| Alternative Scenario | Should the market achieve to exceed the daily pivot, it will target the forthcoming resistance at 0.7878. | ||
The post AUDUSD is ranging around the daily pivot point. appeared first on Forex Circles.
