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AUDUSD is revolving the daily pivot point.
| EURUSD | H4 | ||
| Resistance | 1.1055 | 1.1127 | 1.1171 |
| Support | 1.0938 | 1.0894 | 1.0821 |
| Primary Scenario | A strong movement to the south led EURUSD to violate the daily pivot at 1.1010. Further drop of the market will push the exchange rate down to 1.0938 and then lower at 1.0894. | ||
| Alternative Scenario | A higher thrust of the currency pair will lift the rate towards the daily pivot point. | ||
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GBPUSD | H4 | |
| Resistance | 1.5662 | 1.5726 | 1.5764 |
| Support | 1.5561 | 1.5523 | 1.5459 |
| Primary Scenario | The pair topped up at 1.5688, before retracing below the daily pivot. A deeper correction of GBPUSD will open the way down to 1.5561 and even lower at 1.5523. | ||
| Alternative Scenario | An upward wave would lead the pair to penetrate the daily pivot (1.5624) and further up to 1.5662. | ||
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USDCHF | H4 |  |
| Resistance | 0.9711 | 0.9744 | 0.9801 |
| Support | 0.9621 | 0.9564 | 0.9531 |
| Primary Scenario | USDCHF is heading towards the resistance level at 0.9711. If the pair achieves to extend its uptrend, it will surpass this level, with immediate targets the forthcoming resistance levels at 0.9744 and 0.9801. | ||
| Alternative Scenario | On the other hand, a reversal back below the daily pivot at 0.9654 will push the pair to find support at 0.9621. | ||
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USDJPY | H4 | |
| Resistance | 124.17 | 124.46 | 125.03 |
| Support | 123.97 | 123.75 | 123.31 |
| Primary Scenario | The USDJPY pair has emerged above the upper level of the cloud and a new bullish scenario is now in effect. A successful attempt to exceed the hurdle at 124.17 will trigger the rate to target the resistance levels at 124.46 and even higher at 125.03. | ||
| Alternative Scenario | A plunge of the currency pair will lead the pair to breach the upper level of the cloud (123.97), targeting the support level within the Kumo at 123.75. | ||
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AUDUSD | H4 | |
| Resistance | 0.7335 | 0.7376 | 0.7403 |
| Support | 0.7267 | 0.7240 | 0.7199 |
| Primary Scenario | AUDUSD is revolving the daily pivot point at 0.7308. A decisive movement to the north will generate strength for the pair to penetrate the hurdle in line at 0.7335. The next resistance is seen at 0.7376. | ||
| Alternative Scenario | Should the pair manage to breach the daily pivot, it will move lower towards the support level at 0.7267. | ||
The post AUDUSD is revolving the daily pivot point. appeared first on Forex Circles.
