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USDJPY reached fresh highs in the previous session.
| EURUSD | H4 | ||
| Resistance | 1.1142 | 1.1191 | 1.1231 |
| Support | 1.1052 | 1.1012 | 1.0962 |
| Primary Scenario | EURUSD bounced up from the previous low and is now heading towards the hurdle at 1.1142. A successful penetration of this level will most likely fuel the pair further to hit the forthcoming resistance level at 1.1191. | ||
| Alternative Scenario | A plunge of the market below the daily pivot will push the pair to find support at 1.1052. | ||
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GBPUSD | H4 | |
| Resistance | 1.5590 | 1.5646 | 1.5705 |
| Support | 1.5475 | 1.5416 | 1.5360 |
| Primary Scenario | The pair is negotiating narrowly above the daily pivot point at 1.5531. If GBPUSD manages to withhold the sellers’ pressure, it will climb towards the resistance level at 1.5590 and further up to 1.5646. | ||
| Alternative Scenario | On the other hand, a setback of the currency pair will lead the market to breach the daily pivot, targeting the support level at 1.5475. | ||
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USDCHF | H4 |  |
| Resistance | 0.9403 | 0.9438 | 0.9472 |
| Support | 0.9334 | 0.9300 | 0.9265 |
| Primary Scenario | USDCHF edged up at 0.9403, before retracing below the daily pivot (0.9369). Further drop of the market will push the pair in deeper correction down to 0.9300 and even lower at 0.9265. | ||
| Alternative Scenario | An upward wave would lift the exchange rate above the daily pivot, targeting the resistance level at 0.9403. | ||
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USDJPY | H4 | |
| Resistance | 121.47 | 122.02 | 122.81 |
| Support | 120.72 | 120.30 | 119.84 |
| Primary Scenario | The pair managed to reach fresh highs in the previous session. If the pair achieves to exceed the obstacle at 121.47, it will target the forthcoming resistance level at 122.02. | ||
| Alternative Scenario | A comeback of USDJPY will push prices to hit the support level at 120.72 and further down to 120.30. | ||
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AUDUSD | H4 | |
| Resistance | 0.7918 | 0.7962 | 0.7991 |
| Support | 0.7844 | 0.7815 | 0.7771 |
| Primary Scenario | AUDUSD is revolving around the daily pivot at 0.7889. A decisive thrust of the hurdle at 0.7918 will trigger the market to face the resistance level at 0.7962. | ||
| Alternative Scenario | Alternatively, a break back below the daily pivot will lead the market underway towards the support at 0.7844. | ||
The post USDJPY reached fresh highs in the previous session. appeared first on Forex Circles.
Source:: USDJPY reached fresh highs in the previous session.
