Previous Story
EURUSD has extended its correction below the daily pivot.
| EURUSD | H4 | ||
| Resistance | 1.1317 | 1.1384 | 1.1436 |
| Support | 1.1197 | 1.1145 | 1.1078 |
| Primary Scenario | EURUSD has extended its correction below the daily pivot (1.1265) and approached the support level at 1.1197. A tumble of the market will push prices to breach this level, with immediate target the forthcoming level at 1.1145. | ||
| Alternative Scenario | An upward wave would lift the exchange rate towards the daily pivot and even higher at 1.1317. | ||
 |
GBPUSD | H4 |  |
| Resistance | 1.4564 | 1.4630 | 1.4691 |
| Support | 1.4437 | 1.4376 | 1.4311 |
| Primary Scenario | The pair is now poised to retest the key resistance level at 1.4564. If that happens, GBPUSD will gain momentum to exceed this level, targeting the forthcoming resistance at 1.4630. | ||
| Alternative Scenario | A comeback of the currency pair below the daily pivot will pave the path down to 1.4437. | ||
 |
USDCHF | H4 | |
| Resistance | 0.9796 | 0.9831 | 0.9872 |
| Support | 0.9721 | 0.9679 | 0.9645 |
| Primary Scenario | USDCHF bounced up from the previous bottom and achieved to penetrate the important resistance at 0.9796. Should the pair manage to extend its momentum, the next resistance is seen at 0.9831 and even higher at 0.9872. | ||
| Alternative Scenario | Alternatively, a reversal back below the now-support at 0.9796 will lead the market down to the daily pivot at 0.9755. | ||
 |
USDJPY | H4 | |
| Resistance | 114.13 | 114.68 | 115.20 |
| Support | 113.42 | 112.87 | 112.36 |
| Primary Scenario | The bullish scenario is still in force. A fruitless attempt to move higher will open the way down to 113.42 and further down to 112.87. | ||
| Alternative Scenario | A higher thrust of USDJPY will surpass the barrier at 114.13, targeting the next level at 114.68. | ||
 |
AUDUSD | H4 | |
| Resistance | 0.7131 | 0.7162 | 0.7196 |
| Support | 0.7067 | 0.7032 | 0.7002 |
| Primary Scenario | A strong bullish movement led AUDUSD to clear the resistance levels at 0.7131 and 0.7162. If the pair achieves to withhold the sellers’ pressure, the exchange rate will target the final level at 0.7196 and then higher at 0.7229 (Fibonacci resistance level 261.8%). | ||
| Alternative Scenario | A correction course of the market would push the pair below the support level at 0.7162. The next support is seen at 0.7131. | ||
The post EURUSD has extended its correction below the daily pivot. appeared first on FXTM Blog.
Source:: EURUSD has extended its correction below the daily pivot.
