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AUDUSD bottomed at 0.7476, before closing above the daily pivot at 0.7512.
| EURUSD | H4 | ||
| Resistance | 1.1195 | 1.1213 | 1.1239 |
| Support | 1.1152 | 1.1126 | 1.1108 |
| Primary Scenario | EURUSD is gyrating the daily pivot point at 1.1169. Any forceful movement downwards will lead the pair to retest the barrier at 1.1152. If the market break below this level, next support lies ahead down to 1.1126. | ||
| Alternative Scenario | On the other hand, a higher thrust of the market will fuel the pair to penetrate the daily pivot, targeting the resistance at 1.1195. | ||
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GBPUSD | H4 | |
| Resistance | 1.4204 | 1.4255 | 1.4329 |
| Support | 1.4078 | 1.4004 | 1.3952 |
| Primary Scenario | The GBPUSD pair is revolving the daily pivot (1.4130). If the bears manage to take control of the bulls, then 1.4078 will be retested. A successful violation of this level will open the way down to 1.4004. | ||
| Alternative Scenario | A surge of the market above the daily pivot will lift the exchange rate towards the resistance level at 1.4204. | ||
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USDCHF | H4 |  |
| Resistance | 0.9773 | 0.9790 | 0.9808 |
| Support | 0.9737 | 0.9719 | 0.9701 |
| Primary Scenario | USDCHF has reached a fresh high in today’s session, before retracing down to the daily pivot at 0.9755. Should the pair achieve to exceed the barrier at 0.9773, it will attempt to hit the forthcoming resistance level at 0.9790. | ||
| Alternative Scenario | A comeback of the currency pair below the daily pivot, would push prices to find support at 0.9737. | ||
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USDJPY | H4 | |
| Resistance | 113.31 | 113.70 | 114.12 |
| Support | 112.98 | 112.55 | 112.26 |
| Primary Scenario | The pair is following an uptrend. If the USDJPY manages to withhold the sellers’ pressure, then the hurdle at 113.31 will be eliminated and the next resistance is seen at 113.70. | ||
| Alternative Scenario | Alternatively, a reversal back below the support at 112.98 will bring the market into a correction course, leading the way down to 112.55. | ||
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AUDUSD | H4 | |
| Resistance | 0.7548 | 0.7572 | 0.7608 |
| Support | 0.7488 | 0.7452 | 0.7428 |
| Primary Scenario | AUDUSD bottomed at 0.7476, before closing above the daily pivot at 0.7512. Further upward momentum would trigger the rate to target the next resistance level at 0.7548 and even higher at 0.7572. | ||
| Alternative Scenario | If the pair manages to breach the daily pivot, it will pave the path down to 0.7488. | ||
The post AUDUSD bottomed at 0.7476, before closing above the daily pivot at 0.7512. appeared first on FXTM Blog.
Source:: AUDUSD bottomed at 0.7476, before closing above the daily pivot at 0.7512.
