AUDUSD intends to extend its correction.

EURUSD Technical Analysis
Resistance 1.1168 1.1224 1.1269
Support 1.1066 1.1022 1.0965
Primary Scenario EURUSD is pivoting around the daily pivot at 1.1123. A decisive thrust of the hurdle at 1.1168 will fuel the pair higher to hit the resistance level at 1.1224.
Alternative Scenario On the other hand, a drop of the market below the daily pivot will push prices to find support at 1.1066.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5731 1.5802 1.5905
Support 1.5556 1.5453 1.5382
Primary Scenario A strong bullish momentum led GBPUSD to clear the daily pivot (1.5628). If the pair achieves to extend its momentum, it will climb towards the resistance levels at 1.5731 and 1.5802.
Alternative Scenario A plunge of the exchange rate below the daily pivot point will lead the market to hit the support level at 1.5556.


USDCHF Technical Analysis USDCHF H4
Resistance 0.9396 0.9426 0.9472
Support 0.9321 0.9275 0.9245
Primary Scenario USDCHF has been trapped between the support level at 0.9321 and the resistance level at 0.9396. A bounce up from current levels will lead the market to retest and penetrate the barrier at 0.9396, with immediate target the resistance level at 0.9426.
Alternative Scenario A tumble of the market will open the way down to 0.9321.


USDJPY Technical Analysis USDJPY H4
Resistance 121.02 121.47 122.02
Support 120.69 120.35 119.69
Primary Scenario The market is now testing the key support at 120.69. An upward wave would trigger the market to exceed the resistance at 121.02, targeting the previous top at 121.47.
Alternative Scenario Should USDJPY manage to breach the support at 120.69, the next support is seen at 120.35.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.7914 0.7937 0.7961
Support 0.7867 0.7842 0.7820
Primary Scenario AUDUSD intends to extend its correction. If the pair manages to withstand the sellers’ pressure, it will target the resistance at 0.7937 and even higher at 0.7961.
Alternative Scenario A reversal back below the now-support at 0.7914 will push the pair to down to the daily pivot point at 0.7889.


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