USDCHF edged up at 0.9805, before retracing below the daily pivot.

Posted On 07 Jul 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1131	1.1162	1.1213
Support	1.1048	1.0997	1.0966
Primary Scenario	EURUSD is gyrating the daily pivot point at 1.1079. A bounce up from current levels will fuel the pair to retest the hurdle in line at 1.1131 and further up to 1.1162.
Alternative Scenario	A plunge of the market below the daily pivot will open the way down to 1.1048.

	GBPUSD	H4
Resistance	1.3037	1.3147	1.3267
Support	1.2806	1.2685	1.2575
Primary Scenario	The pair bottomed at 1.2806, before closing above the daily pivot (1.2916). If GBPUSD manages to surpass the barrier at 1.3037, will most likely trigger the market to higher grounds, targeting the forthcoming resistance levels at 1.3147.
Alternative Scenario	On the other hand, a reversal back below the daily pivot would push prices to find support at 1.2806.

	USDCHF	H4
Resistance	0.9787	0.9829	0.9853
Support	0.9721	0.9697	0.9655
Primary Scenario	USDCHF edged up at 0.9805, before retracing below the daily pivot at 0.9763. Further drop of the market will pave the path down to 0.9721 and even lower at 0.9697.
Alternative Scenario	An upward wave to penetrate the daily pivot will accelerate the exchange rate to hit the resistance level at 0.9787.

	USDJPY	H4
Resistance	101.07	101.47	102.13
Support	100.72	100.18	99.71
Primary Scenario	The USDJPY pair is still under pressure. Any forceful movement to the south will push the currency pair to breach the support at 100.72, with immediate target the next support level at 100.18.
Alternative Scenario	Alternatively, a higher thrust above the hurdle at 101.07 will lift the market towards 101.47.

	AUDUSD	H4
Resistance	0.7559	0.7602	0.7679
Support	0.7440	0.7364	0.7321
Primary Scenario	AUDUSD is moving sideways. A successful attempt to exceed the barrier at 0.7559 would lead the pair towards 0.7602.
Alternative Scenario	A tumble of the currency pair will push the market to find support at the daily pivot (0.7483) and then lower at 0.7440.

The post USDCHF edged up at 0.9805, before retracing below the daily pivot. appeared first on FXTM Blog.

Source:: USDCHF edged up at 0.9805, before retracing below the daily pivot.

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