EURUSD bottomed at 1.1231, before closing above the daily pivot.

Posted On 14 Jun 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDHPY

	EURUSD	H4
Resistance	1.1317	1.1345	1.1388
Support	1.1246	1.1203	1.1175
Primary Scenario	EURUSD bottomed at 1.1231, before closing above the daily pivot point (1.1274). Should the pair achieve to extend its momentum, it will climb towards the resistance level at 1.1317 and even higher at 1.1345.
Alternative Scenario	A plunge of the market below the daily pivot will open the way down to 1.1246.

	GBPUSD	H4
Resistance	1.4355	1.4446	1.4566
Support	1.4143	1.4022	1.3931
Primary Scenario	The pair is now poised to retest the key support at 1.4143. A break back below this level will pave the path down to 1.4022.
Alternative Scenario	Alternatively, a surge of GBPUSD above the daily pivot would lift the currency pair towards 1.4355.

	USDCHF	H4
Resistance	0.9670	0.9698	0.9719
Support	0.9621	0.9600	0.9572
Primary Scenario	USDCHF is oscillating below the daily pivot at 0.9649. A decisive movement to the south will push prices to retest the support level at 0.9621. Further drop of the market will lead the exchange rate down to 0.9600.
Alternative Scenario	If the pair manages to surpass the daily pivot, it will target the resistance level at 0.9670.

	USDJPY	H4
Resistance	106.11	106.42	106.84
Support	105.81	105.51	105.13
Primary Scenario	The pair is now testing the important support level at 105.81. A successful violation of this level will push the pair underway down to 105.51 and then lower to 105.13.
Alternative Scenario	On the other hand, an upward wave will accelerate the pair to penetrate the hurdle at 106.11 and further up to 106.42.

	AUDUSD	H4
Resistance	0.7411	0.7436	0.7462
Support	0.7359	0.7333	0.7308
Primary Scenario	AUDUSD is gyrating the daily pivot point at 0.7384. Any forceful attempt to exceed the barrier at 0.7411 will lead the market to hit the forthcoming resistance at 0.7436 and even higher at 0.7462.
Alternative Scenario	A comeback of the market below the daily pivot will push the pair to find support at 0.7359.

The post EURUSD bottomed at 1.1231, before closing above the daily pivot. appeared first on FXTM Blog.

Source:: EURUSD bottomed at 1.1231, before closing above the daily pivot.

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