EURUSD is revolving the daily pivot point at 1.1061.

Posted On 29 Jun 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1112	1.1162	1.1214
Support	1.1011	1.0959	1.0909
Primary Scenario	EURUSD is revolving the daily pivot point at 1.1061. A bounce up from current levels will accelerate the pair to retest the barrier at 1.1112 and even higher at 1.1162.
Alternative Scenario	A reversal back below the daily pivot will push the market down to 1.1011.

	GBPUSD	H4
Resistance	1.3438	1.3538	1.3659
Support	1.3218	1.3097	1.2998
Primary Scenario	The pair is gyrating the daily pivot (1.3317). If the pair manages to withstand the sellers’ pressure, the next resistance is seen at 1.3438 and then higher at 1.3538.
Alternative Scenario	On the other hand, a plunge of GBPUSD below the daily pivot will pave the path down to 1.3218.

	USDCHF	H4
Resistance	0.9848	0.9879	0.9922
Support	0.9774	0.9731	0.9700
Primary Scenario	USDCHF topped up at 0.9836, before closing below the daily pivot at 0.9805. A deeper correction of the exchange rate would push prices to find support at 0.9774 and further down to 0.9731.
Alternative Scenario	An upward wave above the daily pivot will lift the currency pair towards 0.9848.

	USDJPY	H4
Resistance	102.56	103.23	103.95
Support	102.23	101.11	100.22
Primary Scenario	The pair is oscillating between the suppoort level at 101.11 and the resistance level at 103.23. A break back below the support at 102.23 will open the way down to 101.11.
Alternative Scenario	Alternatively, a higher thrust above the hurdle at 102.56 will fuel the pair towards 103.23.

	AUDUSD	H4
Resistance	0.7424	0.7466	0.7518
Support	0.7331	0.7279	0.7238
Primary Scenario	AUDUSD is now testing the important resistance level at 0.7424. A successful attempt to penetrate this level will trigger the market to retest the forthcoming resistance at 0.7466 and even higher at 0.7518.
Alternative Scenario	A comeback of the pair below the daily pivot (0.7373) will lead the market down to 0.7331.

The post EURUSD is revolving the daily pivot point at 1.1061. appeared first on FXTM Blog.

Source:: EURUSD is revolving the daily pivot point at 1.1061.

About the Author

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we will ensure that their individual needs are always met as markets continue to evolve over time. Visit ForexTime to learn more www.forextime.com [space height="20"] [social type="facebook"]https://www.facebook.com/ForexTime[/social] [social type="twitter"]https://twitter.com/ItsForexTime[/social] [social type="google-plus"]https://plus.google.com/u/0/+ForextimeFXTM/posts[/social] [social type="youtube"]https://www.youtube.com/user/ItsForexTime[/social]