Previous Story
AUDUSD is revolving the daily pivot point.
| EURUSD | H4 | ||
| Resistance | 1.1258 | 1.1307 | 1.1352 |
| Support | 1.1163 | 1.1117 | 1.1068 |
| Primary Scenario | EURUSD has just penetrated the key level at 1.1258. If the pair manages to extend its momentum, it will retest and surpass the forthcoming resistance at 1.1307. The next target is seen at 1.1352. | ||
| Alternative Scenario | Should the pair achieve to break below the support at 1.1258, prices will find support at 1.1163 (daily pivot). | ||
 |
GBPUSD | H4 | |
| Resistance | 1.5406 | 1.5470 | 1.5503 |
| Support | 1.5308 | 1.5274 | 1.5211 |
| Primary Scenario | The pair is oscillating around the daily pivot point at 1.5372. A decisive thrust of GBPUSD will trigger the market to exceed the resistance level at 1.5406, targeting the next target level at 1.5470. | ||
| Alternative Scenario | A comeback of the exchange rate would push the market below the daily pivot, paving the way down to 1.5308. | ||
 |
USDCHF | H4 |  |
| Resistance | 0.9711 | 0.9751 | 0.9813 |
| Support | 0.9608 | 0.9546 | 0.9505 |
| Primary Scenario | USDCHF is now testing the critical support level at 0.9608. A drop of the market below this level will most likely push the pair to find support at 0.9546 and further down to 0.9505. | ||
| Alternative Scenario | Alternatively, an upward wave would bring the pair back to the major trend, targeting the daily pivot at 0.9648 and even higher the resistance at 0.9711. | ||
 |
USDJPY | H4 | |
| Resistance | 121.07 | 121.42 | 122.03 |
| Support | 120.37 | 120.02 | 119.59 |
| Primary Scenario | The pair intends to hit the support at the upper level of the cloud at 120.37. A bounce up from current levels would generate strength for USDJPY to retest the hurdle at 121.07 and then higher at 121.42. | ||
| Alternative Scenario | On the other hand, a failed attempt to move higher will push the pair to violate the upper level of the cloud (120.37). The next support is estimated at 120.02. | ||
 |
AUDUSD | H4 | |
| Resistance | 0.7155 | 0.7199 | 0.7235 |
| Support | 0.7074 | 0.7037 | 0.6993 |
| Primary Scenario | AUDUSD is revolving the daily pivot point at 0.7118. A higher thrust of the currency pair would fuel the rate to target the resistance level at 0.7155 and even higher at 0.7199. | ||
| Alternative Scenario. | A tumble of the market will push prices below the daily pivot, opening the way down to 0.7074. | ||
The post AUDUSD is revolving the daily pivot point. appeared first on Forex Circles.
