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EURUSD cleared the daily pivot and the resistance level at 1.0943.
| EURUSD | H4 | ||
| Resistance | 1.0943 | 1.0980 | 1.1023 |
| Support | 1.0863 | 1.0821 | 1.0783 |
| Primary Scenario | EURUSD bounced up from the previous bottom and managed to clear the daily pivot (1.0900) and the resistance level at 1.0943. If the pair achieves to extend its momentum, it will target 1.0980 and further up 1.1023. | ||
| Alternative Scenario | A comeback of the exchange rate will push prices to find support at 1.0943 and then lower at the daily pivot. | ||
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GBPUSD | H4 |  |
| Resistance | 1.4286 | 1.4418 | 1.4496 |
| Support | 1.4075 | 1.3997 | 1.3865 |
| Primary Scenario | The pair is following a downtrend. Further drop of the market will lead GBPUSD towards the support level at 1.4075 and even lower at 1.3997. | ||
| Alternative Scenario | On the other hand, an upward wave would lift the currency pair above the daily pivot (1.4207), with immediate target the resistance at 1.4286. RSI supports this outlook. | ||
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USDCHF | H4 | |
| Resistance | 1.0071 | 1.0116 | 1.0151 |
| Support | 0.9991 | 0.9956 | 0.9911 |
| Primary Scenario | The trading range has been limited between 1.0116 and 0.9956. A decisive movement to the south will push USDCHF to eliminate the support level at 0.9991, targeting the forthcoming support levels at 0.9956 and then lower at 0.9911. | ||
| Alternative Scenario | A surge of the market will trigger the rate to hit the daily pivot at 1.0036 and even higher at 1.0071. | ||
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USDJPY | H4 | |
| Resistance | 117.00 | 117.36 | 117.76 |
| Support | 116.76 | 116.50 | 116.13 |
| Primary Scenario | The pair intends to retest the previous bottom at 116.76. A breach of this level will lead USDJPY to fresh lows, targeting the support levels at 116.50 and 116.13. | ||
| Alternative Scenario | Alternatively, a successful attempt to exceed the hurdle at 117.00 will fuel the pair to hit the forthcoming target at 117.36. | ||
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AUDUSD | H4 | |
| Resistance | 0.6961 | 0.7018 | 0.7080 |
| Support | 0.6842 | 0.6780 | 0.6723 |
| Primary Scenario | AUDUSD is oscillating around the daily pivot point at 0.6899. Any forceful attempt to violate the support level at 0.6842 will open the way down to 0.6780 and then lower at 0.6723. | ||
| Alternative Scenario. | A higher thrust of the currency pair will lead the market towards the daily pivot and further up to 0.6961. | ||
The post EURUSD cleared the daily pivot and the resistance level at 1.0943. appeared first on FXTM Blog.
Source:: EURUSD cleared the daily pivot and the resistance level at 1.0943.
