AUDUSD surged above the daily pivot at 0.7211.

Posted On 26 Feb 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1048	1.1080	1.1111
Support	1.0985	1.0954	1.0922
Primary Scenario	EURUSD cleared the key resistance level at 1.1048 in today’s session. If the pair achieve to extend its momentum, it will target the forthcoming resistance at 1.1080 and further up to 1.1111.
Alternative Scenario	A drop below the now-support at 1.1048 will lead the pair down to 1.0985.

	GBPUSD	H4
Resistance	1.4003	1.4048	1.4100
Support	1.3907	1.3854	1.3810
Primary Scenario	The pair is gyrating the daily pivot at 1.3951. A bounce up from current levels will fuel the pair towards the hurdle in line at 1.4003 and then higher at 1.4048.
Alternative Scenario	On the other hand, should the pair manage to violate the daily pivot, the next support is seen at 1.3907.

	USDCHF	H4
Resistance	0.9943	0.9984	1.0017
Support	0.9868	0.9835	0.9794
Primary Scenario	USDCHF has tested the important support level at 0.9868. A decisive movement to the south will push prices below this level, with immediate target the next support at 0.9835 and even lower at 0.9794.
Alternative Scenario	A higher thrust of the market above the daily pivot will lift the exchange rate towards 0.9943.

	USDJPY	H4
Resistance	112.91	113.21	113.57
Support	112.54	112.21	111.89
Primary Scenario	After approaching the lower level of the Kumo, USDJPY turned back south. Further drop of the market will lead the pair to breach the barrier at 112.54, opening the way down to 112.21.
Alternative Scenario	Alternatively, an upward wave would fuel the pair to surpass the hurdle at 112.91, targeting the next resistance at 113.21.

	AUDUSD	H4
Resistance	0.7266	0.7298	0.7353
Support	0.7179	0.7124	0.7092
Primary Scenario	AUDUSD surged above the daily pivot (0.7211) and tested the hurdle at 0.7266. If the pair manages to withstand the sellers’ pressure, it will penetrate 0.7266, paving the path up to 0.7298.
Alternative Scenario	A plunge of the rate below the daily pivot will push the pair to find support at 0.7179.

The post AUDUSD surged above the daily pivot at 0.7211. appeared first on FXTM Blog.

Source:: AUDUSD surged above the daily pivot at 0.7211.

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