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EURUSD erased the previous gains at 1.1300.
| EURUSD | H4 | ||
| Resistance | 1.1300 | 1.1393 | 1.1468 |
| Support | 1.1132 | 1.1057 | 1.0964 |
| Primary Scenario | EURUSD erased the previous gains at 1.1300 and is now trading slightly above the daily pivot (1.1225). A decisive movement to the north will trigger the market to penetrate the hurdle at 1.1300, with immediate target the resistance level at 1.1393. | ||
| Alternative Scenario | A plunge of the market below the daily pivot will push prices to find support at 1.1132. | ||
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GBPUSD | H4 | |
| Resistance | 1.5235 | 1.5291 | 1.5346 |
| Support | 1.5125 | 1.5071 | 1.5015 |
| Primary Scenario | The pair set to retest the resistance level at 1.5235. A successful attempt to surpass this level will most likely lead GBPUSD to hit the forthcoming resistance at 1.5291. | ||
| Alternative Scenario | Alternatively, a comeback of the exchange rate would push the pair below the daily pivot (1.5181), paving the path down to 1.5125. | ||
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USDCHF | H4 |  |
| Resistance | 0.9787 | 0.9865 | 0.9937 |
| Support | 0.9638 | 0.9566 | 0.9488 |
| Primary Scenario | USDCHF is negotiating below the daily pivot point at 0.9716. If the bears manage to take control of the bulls, the next support is seen at 0.9638 and then lower at 0.9566. | ||
| Alternative Scenario | An upward wave would lift the currency pair above the daily pivot and further up to 0.9787. | ||
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USDJPY | H4 | |
| Resistance | 120.13 | 120.43 | 120.91 |
| Support | 119.86 | 119.54 | 118.67 |
| Primary Scenario | The USDJPY pair is gyrating below the Kumo. Any forceful attempt to the south will lead the market to violate the support level at 119.86, opening the way down to 119.54. | ||
| Alternative Scenario | On the other hand, a higher thrust of the pair will fuel the rate towards the resistance at 120.13 and even higher at 120.43. | ||
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AUDUSD | H4 | |
| Resistance | 0.7072 | 0.7101 | 0.7137 |
| Support | 0.7007 | 0.6971 | 0.6942 |
| Primary Scenario | AUDUSD is now testing the barrier at 0.7072. If the pair manages to withstand the sellers’ pressure, it will climb above this level, targeting the resistance level at 0.7101 and then higher at 0.7137. | ||
| Alternative Scenario. | A reversal back below the daily pivot (0.7036) will lead the market underway towards the support level at 0.7007. | ||
The post EURUSD erased the previous gains at 1.1300. appeared first on Forex Circles.
