EURUSD bounce up from the previous bottom.

Posted On 17 Jun 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1301	1.1380	1.1465
Support	1.1137	1.1052	1.0973
Primary Scenario	EURUSD bounce up from the previous bottom and is now trading above the daily pivot (1.1216). If the pair achieves to exceed the hurdle at 1.1301, it will target the resistance level at 1.1380.
Alternative Scenario	A reversal back below the daily pivot will push prices to find support at 1.1137.

	GBPUSD	H4
Resistance	1.4299	1.4396	1.4540
Support	1.4058	1.3914	1.3817
Primary Scenario	The pair is now testing the key resistance at 1.4299. Should GBPUSD manage to penetrate this barrier, the next resistance is seen at 1.4396 and even higher at 1.4540.
Alternative Scenario	On the other hand, a plunge of the currency pair below the daily pivot at 1.4155 would pave the path down to 1.4058.

	USDCHF	H4
Resistance	0.9699	0.9750	0.9814
Support	0.9584	0.9520	0.9469
Primary Scenario	USDCHF is negotiating slightly above the daily pivot point at 0.9635. Any forceful movement to the north will trigger the market to retest the hurdle in line at 0.9699 and further up to 0.9750.
Alternative Scenario	A break back below the daily pivot (0.9635) will open the way down to 0.9584.

	USDJPY	H4
Resistance	104.36	104.82	105.33
Support	104.09	103.52	103.02
Primary Scenario	The pair is still under pressure. A failed attempt to move higher will lead USDJPY to breach the support at 104.09, with immediate target the forthcoming level at 103.52.
Alternative Scenario	Alternatively, an upward wave would accelerate the market to surpass the barrier at 104.36, targeting the resistance at 104.82.

	AUDUSD	H4
Resistance	0.7439	0.7517	0.7594
Support	0.7284	0.7207	0.7129
Primary Scenario	AUDUSD is gyrating the daily pivot point (0.7362). Should the pair manage to break the barrier at 0.7439, the exchange rate would target the resistance at 0.7517.
Alternative Scenario	A comeback of the market below the daily pivot will lead the pair to find support at 0.7284.

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Source:: EURUSD bounce up from the previous bottom.

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