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AUDUSD topped up at 0.7278, before closing below the daily pivot.
| EURUSD | H4 | ||
| Resistance | 1.0685 | 1.0748 | 1.0809 |
| Support | 1.0562 | 1.0502 | 1.0439 |
| Primary Scenario | EURUSD is now trading slightly below the daily pivot (1.0625). If the pair manages to violate the support level at 1.0562, it will open the way down to 1.0502. | ||
| Alternative Scenario | A higher thrust of the market above the daily pivot will lead the currency pair towards the hurdle in line at 1.0685. | ||
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GBPUSD | H4 |  |
| Resistance | 1.5155 | 1.5185 | 1.5235 |
| Support | 1.5075 | 1.5025 | 1.4995 |
| Primary Scenario | The pair is gyrating the daily pivot point at 1.5105. Should the pair manage to retest and penetrate the hurdle at 1.5155, the next resistance is seen at 1.5185. | ||
| Alternative Scenario | On the other hand, a comeback of GBPUSD will lead the market below the daily pivot, with immediate target the support level at 1.5075. | ||
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USDCHF | H4 | |
| Resistance | 1.0266 | 1.0320 | 1.0382 |
| Support | 1.0151 | 1.0089 | 1.0035 |
| Primary Scenario | USDCHF is oscillating around the daily pivot point at 1.0204. A bounce up from current levels will trigger the market to exceed the previous top at 1.0266, targeting the resistance level at 1.0320. | ||
| Alternative Scenario | A plunge of the market below the daily pivot will pave the path towards the support level at 1.0151. | ||
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USDJPY | H4 | |
| Resistance | 122.74 | 122.97 | 123.25 |
| Support | 122.54 | 122.24 | 121.91 |
| Primary Scenario | The pair is now testing the critical support level at 122.54. Any forceful attempt to breach this level will lead USDJPY down to the forthcoming support at 122.24. | ||
| Alternative Scenario | Alternatively, an upward wave would lift the exchange rate to climb towards the resistance levels at 122.74 and 122.97. | ||
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AUDUSD | H4 | |
| Resistance | 0.7278 | 0.7308 | 0.7334 |
| Support | 0.7223 | 0.7196 | 0.7167 |
| Primary Scenario | AUDUSD topped up at 0.7278, before closing below the daily pivot at 0.7252. A tumble of the market will push prices below the key support level at 0.7223, pushing the pair to find support at 0.7196. | ||
| Alternative Scenario. | A surge of the exchange rate would fuel the pair above the daily pivot, with immediate target the resistance at 0.7278. | ||
The post AUDUSD topped up at 0.7278, before closing below the daily pivot. appeared first on FXTM Blog.
Source:: AUDUSD topped up at 0.7278, before closing below the daily pivot.
