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AUDUSD gained momentum and achieved to retest the critical resistance level at 0.7732.
| EURUSD | H4 | ||
| Resistance | 1.1221 | 1.1297 | 1.1352 |
| Support | 1.1089 | 1.1035 | 1.0958 |
| Primary Scenario | EURUSD is negotiating below the daily pivot at 1.1166. A decisive movement to the south is expected to reach and violate the support level at 1.1089, targeting the forthcoming support level at 1.1035. | ||
| Alternative Scenario | A higher thrust of the market will exceed the daily pivot point, with immediate target the resistance level at 1.1221. | ||
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GBPUSD | H4 | |
| Resistance | 1.5759 | 1.5809 | 1.5842 |
| Support | 1.5676 | 1.5643 | 1.5593 |
| Primary Scenario | The pair has been trapped between the support level at 1.5676 and the resistance level at 1.5759. A plunge of GBPUSD below the key support level at 1.5676 will most likely lead the currency pair to find support at 1.5643 and even lower at 1.5593. | ||
| Alternative Scenario | Alternatively, an upward wave would trigger the market to surpass the daily pivot (1.5726) and hit the hurdle at 1.5759. | ||
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USDCHF | H4 |  |
| Resistance | 0.9406 | 0.9461 | 0.9542 |
| Support | 0.9271 | 0.9190 | 0.9136 |
| Primary Scenario | USDCHF bounced up from the previous bottom and is now heading towards the resistance level at 0.9406. A successful attempt to penetrate this level will lift the exchange rate towards the resistance level at 0.9461. | ||
| Alternative Scenario | A comeback of the market will push prices to breach the daily pivot point (0.9325) and further down to 0.9271. | ||
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USDJPY | H4 | |
| Resistance | 122.59 | 122.94 | 123.45 |
| Support | 121.93 | 121.47 | 120.96 |
| Primary Scenario | The USDJPY pair is following a downtrend. If the bears manage to take control of the bulls, the next support is estimated at 121.93 and then lower at 121.47. | ||
| Alternative Scenario | An upside momentum will generate strength for the market to surpass the hurdle at 122.59, targeting the resistance at 122.94. | ||
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AUDUSD | H4 | |
| Resistance | 0.7732 | 0.7760 | 0.7796 |
| Support | 0.7667 | 0.7630 | 0.7603 |
| Primary Scenario | AUDUSD gained momentum and achieved to retest the critical resistance level at 0.7732. If the pair manages to withstand the sellers’ pressure, it will exceed this level, opening the path to the forthcoming resistance level at 0.7760. The next resistance is seen at 0.7796. | ||
| Alternative Scenario | A reversal back below the daily pivot at 0.7695 will lead the currency pair towards the support level at 0.7667. | ||
The post AUDUSD gained momentum and achieved to retest the critical resistance level at 0.7732. appeared first on Forex Circles.
Source:: AUDUSD gained momentum and achieved to retest the critical resistance level at 0.7732.
