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

Posted On 25 Feb 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
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	H4
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	H4
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	H4
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	H4
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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