EURUSD has launched to the resistance level at 1.2580.

EURUSD Technical Analysis
Resistance 1.2580 1.2636 1.2727
Support 1.2432 1.2341 1.2285
Primary Scenario EURUSD has launched to the resistance level at 1.2580, after a strong movement upwards. If the pair manages to extend its momentum, it will exceed the hurdle at 1.2580, targeting the resistance at 1.2636.
Alternative Scenario A setback of the market, will push prices to find support at 1.2489 (daily pivot).


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5720 1.5773 1.5837
Support 1.5603 1.5539 1.5486
Primary Scenario The pair is now testing the resistance level at 1.5720. A successful breach of this level, will trigger the market towards the next target at 1.5773 and even higher at 1.5837.
Alternative Scenario A plunge of GBPUSD will lead prices back to the daily pivot (1.5656) and then lower at 1.5603.


USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9661 0.9732 0.9776
Support 0.9545 0.9501 0.9430
Primary Scenario USDCHF has violated the daily pivot at 0.9617 and tested the support level at 0.9545. A decisive movement to the south, will push prices to breach this barrier. The next support is seen at 0.9501.
Alternative Scenario An upward wave, would lift the pair up to the daily pivot at 0.9617.


USDJPY Technical Analysis USDJPY H4
Resistance 115.88 116.25 117.05
Support 115.44 115.00 114.62
Primary Scenario The pair has ended its correction course and it is now heading to the resistance level at 115.88 (Kijun-sen). If USDJPY manages to withhold the sellers’ pressure, it will exceed this level, with immediate target the next resistance at 116.25.
Alternative Scenario A reversal back of the currency rate, will lead USDJPY to breach the support level at 115.44 and further down to 115.00.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.8795 0.8844 0.8918
Support 0.8672 0.8598 0.8549
Primary Scenario AUDUSD is following an uptrend. Any forceful movement to the north, will push the pair to penetrate the hurdle at 0.8795 and then higher at 0.8844.
Alternative Scenario Should the pair fail to move higher, it will retrace back to the daily pivot at 0.8721.


The post EURUSD has launched to the resistance level at 1.2580. appeared first on Forex Circles.

Source:: EURUSD has launched to the resistance level at 1.2580.

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