AUDUSD negotiates below the daily pivot point.

Posted On 02 Jul 2015

Tag: AUDUSD, Daily Pivot Point, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1134	1.1216	1.1262
Support	1.1005	1.0959	1.0877
Primary Scenario	A strong bearish momentum led EURUSD below the daily pivot point at 1.1088. A persistent trading below this level will push prices lower towards the support level at 1.1005 and further down to 1.0959.
Alternative Scenario	A surge of the currency pair above the daily pivot will lift the exchange rate to hit the resistance at 1.1134.

	GBPUSD	H4
Resistance	1.5701	1.5788	1.5844
Support	1.5557	1.5501	1.5414
Primary Scenario	GBPUSD has finally achieved to violate the daily pivot (1.5644), a key support level. If the pair manages to extend its momentum, the next support is seen at 1.5557 and even lower at 1.5501.
Alternative Scenario	On the other hand, a successful penetration of the daily pivot point will fuel the pair towards the hurdle at 1.5701.

	USDCHF	H4
Resistance	0.9531	0.9584	0.9679
Support	0.9383	0.9288	0.9235
Primary Scenario	USDCHF rose above the critical resistance level – the daily pivot (0.9436). A sustained trading above this level will most likely trigger the market to target the forthcoming resistance levels at 0.9531 and 0.9584.
Alternative Scenario	A reversal back below the daily pivot point will push the market to find support at 0.9383.

	USDJPY	H4
Resistance	123.45	123.72	124.35
Support	122.96	122.48	121.93
Primary Scenario	The USDJPY pair is now testing the lower level of the Ichimoku Kinko Hyo cloud. A failed attempt to enter within the Kumo will generate strength for the market to retest the support level at 122.96 and then lower at 122.48.
Alternative Scenario	Alternatively, a thrust of the barrier at 123.45 will lead the pair towards the next resistance level at 123.72.

	AUDUSD	H4
Resistance	0.7708	0.7773	0.7808
Support	0.7608	0.7573	0.7508
Primary Scenario	AUDUSD negotiates below the daily pivot at 0.7673. Further drop of the currency pair will open the way down to 0.7608 and even lower at 0.7573.
Alternative Scenario	Should the pair achieve to exceed the daily pivot, it will climb towards the resistance level at 0.7708.

The post AUDUSD negotiates below the daily pivot point. appeared first on Forex Circles.

Source:: AUDUSD negotiates below the daily pivot point.

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