EURUSD bottomed at 1.0963, before retracing above the daily pivot.

EURUSD Technical Analysis
Resistance 1.1052 1.1093 1.1141
Support 1.0963 1.0916 1.0875
Primary Scenario EURUSD bottomed at 1.0963, before retracing above the daily pivot at 1.1004. A successful attempt to penetrate the hurdle at 1.1052 will lift the exchange rate towards the resistance level at 1.1093 and even higher at 1.1141.
Alternative Scenario Should the pair achieve to breach the daily pivot, the market will retest the support level at 1.0963.


GBPUSD Technical Analysis GBPUSD H4 Down Trend
Resistance 1.4007 1.4091 1.4156
Support 1.3858 1.3794 1.3710
Primary Scenario The pair is hovering below the daily pivot point at 1.3942. Any decisive movement to the south will push prices to find support at 1.3858 and then lower at 1.3794.
Alternative Scenario Alternatively, if GBPUSD manages to exceed the daily pivot, it will target the next resistance level at 1.4007. RSI oscillator supports this scenario.


USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9941 0.9996 1.0041
Support 0.9841 0.9797 0.9742
Primary Scenario USDCHF is negotiating below the daily pivot (0.9896). If the pair achieves to extend its momentum, the next support is seen at 0.9841 and further down to 0.9797.
Alternative Scenario An upward wave would lift the exchange rate above the daily pivot, with immediate target the resistance at 0.9941.


USDJPY Technical Analysis USDJPY H4 Down Trend
Resistance 112.61 113.04 113.57
Support 112.22 111.80 111.03
Primary Scenario The USDJPY pair in now following a correction course. A failed attempt to move higher will push the pair to find support at 112.22 and even lower at 111.80.
Alternative Scenario On the other hand, a higher thrust of the currency pair will trigger the market to surpass the barrier at 112.61. The next resistance is estimated at 113.04.


AUDUSD Technical Analysi AUDUSD H4 Down Trend
Resistance 0.7222 0.7251 0.7290
Support 0.7155 0.7116 0.7088
Primary Scenario AUDUSD is oscillating around the daily pivot point (0.7184). A plunge of the market will lead the pair to eliminate the support at 0.7155, targeting the forthcoming level at 0.7116.
Alternative Scenario A surge of the pair above the daily pivot will fuel the rate further towards the hurdle in line at 0.7222.


The post EURUSD bottomed at 1.0963, before retracing above the daily pivot. appeared first on FXTM Blog.

Source:: EURUSD bottomed at 1.0963, before retracing above the daily pivot.

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