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AUDUSD is now poised to retest the hurdle at 0.7181.
| EURUSD | H4 | ||
| Resistance | 1.1154 | 1.1183 | 1.1227 |
| Support | 1.1082 | 1.1037 | 1.1009 |
| Primary Scenario | EURUSD is trading on the daily pivot point at 1.1110. Any decisive movement to the north will generate strength for the market to retest the forthcoming resistance levels at 1.1154 and 1.1183. | ||
| Alternative Scenario | A break back below the daily pivot will lead the pair to find support at 1.1082. | ||
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GBPUSD | H4 |  |
| Resistance | 1.4453 | 1.4507 | 1.4611 |
| Support | 1.4296 | 1.4192 | 1.4138 |
| Primary Scenario | The pair began the new week with negative gap, below the daily pivot (1.4350). Further drop of the exchange rate would push prices to hit the support level at 1.4192 and further down to 1.4138. | ||
| Alternative Scenario | On the other hand, an upward wave will lift GBPUSD above the now-resistance level at 1.4296 and then higher towards the daily pivot point. | ||
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USDCHF | H4 | |
| Resistance | 0.9943 | 0.9994 | 1.0022 |
| Support | 0.9864 | 0.9836 | 0.9785 |
| Primary Scenario | USDCHF is gyrating the daily pivot at 0.9915. Any forceful attempt to the south will open the way down to 0.9864 and even lower at 0.9836. | ||
| Alternative Scenario | A higher thrust of the currency pair will accelerate the market to surpass the daily pivot, with immediate target the resistance at 0.9943. | ||
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USDJPY | H4 | |
| Resistance | 113.04 | 113.38 | 113.92 |
| Support | 112.74 | 112.28 | 111.61 |
| Primary Scenario | The pair is following a downtrend. A tumble of the market below the key support level at 112.74 will most likely push prices to find support at 112.28 and further down to 111.61. | ||
| Alternative Scenario | Alternatively, a surge of USDJPY above the barrier at 113.04 would lead the rate to hit the lower level of the Kumo at 113.38. | ||
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AUDUSD | H4 | |
| Resistance | 0.7181 | 0.7217 | 0.7274 |
| Support | 0.7088 | 0.7032 | 0.6995 |
| Primary Scenario | AUDUSD is now poised to retest the hurdle at 0.7181. A successful penetration of this level will trigger the market towards the forthcoming resistance level at 0.7217 and even higher at 0.7274. | ||
| Alternative Scenario | Should the pair fail to move higher, it will find support at the daily pivot (0.7124) and further down to 0.7088. | ||
The post AUDUSD is now poised to retest the hurdle at 0.7181. appeared first on FXTM Blog.
Source:: AUDUSD is now poised to retest the hurdle at 0.7181.
