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EURUSD has experienced strong resistance at 1.0972.
| EURUSD | H4 | ||
| Resistance | 1.1018 | 1.1052 | 1.1099 |
| Support | 1.0938 | 1.0891 | 1.0858 |
| Primary Scenario | EURUSD has experienced strong resistance at the daily pivot area (1.0972). A plunge of the market will push the pair to retest and breach the support level at 1.0938, with immediate target the next support at 1.0891. | ||
| Alternative Scenario | An upward wave will lead the exchange rate to penetrate the daily pivot point, targeting the resistance level at 1.1018. | ||
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GBPUSD | H4 |  |
| Resistance | 1.5336 | 1.5391 | 1.5441 |
| Support | 1.5230 | 1.5180 | 1.5124 |
| Primary Scenario | The pair is gyrating the daily pivot point at 1.5285. A decisive upward movement will most likely fuel the pair to retest the hurdle at 1.5336. A successful surpass of this level will lift the currency pair higher towards the resistance level at 1.5391. | ||
| Alternative Scenario | A comeback of GBPUSD will push the pair below the daily pivot towards the support level at 1.5230. | ||
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USDCHF | H4 | |
| Resistance | 0.9467 | 0.9537 | 0.9597 |
| Support | 0.9336 | 0.9276 | 0.9206 |
| Primary Scenario | USDCHF is oscillating around the daily pivot (0.9407). Any forceful attempt to the north will lift the pair to target the resistance at 0.9467 and further up to 0.9537. | ||
| Alternative Scenario | Alternatively, a break back below the daily pivot point will open the way down to 0.9336. | ||
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USDJPY | H4 | |
| Resistance | 124.45 | 125.22 | 125.93 |
| Support | 123.91 | 123.42 | 122.95 |
| Primary Scenario | The USDJPY pair is still trading in the range of 123.42 (support) and 124.45 (resistance). If the bulls manage to take control of the bears, the market will eliminate the barrier at 124.45, targeting the forthcoming resistance level at 125.22. | ||
| Alternative Scenario | A tumble of the exchange rate will lead the market to violate the support at 123.91. The next support is estimated at 123.42. | ||
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AUDUSD | H4 | |
| Resistance | 0.7666 | 0.7692 | 0.7711 |
| Support | 0.7621 | 0.7602 | 0.7576 |
| Primary Scenario | AUDUSD is hovering the daily pivot at 0.7647. A higher thrust of the pair will trigger the market to exceed the hurdle at 0.7666, targeting the resistance level at 0.7692. | ||
| Alternative Scenario | A setback of the prices will push the market below the daily pivot down to 0.7621. | ||
The post EURUSD has experienced strong resistance at 1.0972. appeared first on Forex Circles.
Source:: EURUSD has experienced strong resistance at 1.0972.
