EURUSD gained momentum.

EURUSD Technical Analysis
Resistance 1.1120 1.1165 1.1238
Support 1.1001 1.0928 1.0834
Primary Scenario EURUSD gained momentum and managed to exceed the daily pivot at 1.1047. If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance level at 1.1120 and further up to 1.1165.
Alternative Scenario A comeback of the currency pair will push the market below the daily pivot to find support at 1.1001.


GBPUSD Technical Analysis GBPUSD H4 Down Trend
Resistance 1.5440 1.5521 1.5576
Support 1.5304 1.5248 1.5167
Primary Scenario The pair is trading slightly below the daily pivot point (1.5384). Any persistent movement to the south will most likely put pressure to the GBPUSD pair to target the support level at 1.5304 and then lower at 1.5248.
Alternative Scenario A higher thrust of the market will lift the rate to eliminate the daily pivot, leading the way up to 1.5440.


USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9503 0.9556 0.9603
Support 0.9402 0.9354 0.9301
Primary Scenario USDCHF is oscillating around the daily pivot point at 0.9455. A decisive downward movement will most likely push prices to find support at 0.9402 and even lower at 0.9354.
Alternative Scenario Alternatively, a successful attempt to penetrate the daily pivot will open the way up towards the resistance level at 0.9503.


USDJPY Technical Analysis USDJPY H4 Down Trend
Resistance 121.48 122.06 122.64
Support 120.40 119.63 118.88
Primary Scenario Having reversed from the previous bottom, the pair is now testing the hurdle at 121.48. A fruitless attempt to exceed this level will lead USDJPY to return down to 120.40. A beak below this level will push the market to find support at 119.63.
Alternative Scenario On the other hand, a surpass of the hurdle at 121.48 will fuel the pair further towards the resistance at 122.06.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.7467 0.7506 0.7554
Support 0.7380 0.7332 0.7293
Primary Scenario AUDUSD cleared the major resistance at 0.7467 and is now poised to retest the hurdle at 0.7506. Further increase of the market will trigger the market to target the forthcoming resistance level at 0.7554.
Alternative Scenario A plunge of the pair will lead the exchange rate to breach the support at 0.7467. The next support is seen at 0.7419 (daily pivot).


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Source:: EURUSD gained momentum.

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