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EURUSD has dropped further.
| EURUSD | H4 | ||
| Resistance | 1.1103 | 1.1192 | 1.1246 |
| Support | 1.0959 | 1.0906 | 1.0816 |
| Primary Scenario | EURUSD has dropped further. If the pair manages to extend its downtrend, the next support is seen at 1.0959 and even lower at 1.0906. | ||
| Alternative Scenario | An upward wave would trigger the market to exceed the daily pivot, targeting the resistance level at 1.1103. RSI oscillator supports this scenario. | ||
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GBPUSD | H4 | |
| Resistance | 1.5382 | 1.5457 | 1.5495 |
| Support | 1.5269 | 1.5231 | 1.5156 |
| Primary Scenario | The pair is trading below the daily pivot point at 1.5344. A decisive movement to the south will push prices below the support level at 1.5269, opening the way down to 1.5231. | ||
| Alternative Scenario | Alternatively, a higher thrust of the exchange rate would lift GBPUSD above the daily pivot towards the resistance level at 1.5382. | ||
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USDCHF | H4 |  |
| Resistance | 0.9818 | 0.9853 | 0.9907 |
| Support | 0.9729 | 0.9675 | 0.9640 |
| Primary Scenario | USDCHF is negotiating on the daily pivot (0.9764). If the pair achieves to withstand the sellers’ pressure, it will climb towards the resistance level at 0.9818 and then higher at 0.9853. RSI is trading within the overbought territory. | ||
| Alternative Scenario | Should the pair manage to break the daily pivot, it will find support at 0.9729. | ||
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USDJPY | H4 | |
| Resistance | 121.47 | 122.01 | 122.83 |
| Support | 120.85 | 120.43 | 119.69 |
| Primary Scenario | The USDJPY pair is trading in a bullish sentiment. Further increase of the market will generate strength for the exchange rate to retest and penetrate the hurdle at 121.47, with immediate target the resistance level at 122.01. | ||
| Alternative Scenario | On the other hand, a comeback of the currency pair will bring the market below the support level at 120.85. The next support is estimated at 120.43. | ||
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AUDUSD | H4 | |
| Resistance | 0.7277 | 0.7335 | 0.7375 |
| Support | 0.7178 | 0.7138 | 0.7079 |
| Primary Scenario | AUDUSD is pivoting around the daily pivot at 0.7236. A successful attempt to surpass the barrier at 0.7277, will fuel the pair further towards the resistance level at 0.7335. | ||
| Alternative Scenario. | A plunge of the market below the daily pivot will pave the path towards the support level at 0.7178. | ||
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Source:: EURUSD has dropped further.
