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EURUSD: High volatility.
| EURUSD | H4 | ||
| Resistance | 1.1395 | 1.1451 | 1.1493 |
| Support | 1.1297 | 1.1254 | 1.1198 |
| Primary Scenario | After the high volatility in the previous session, EURUSD has finally violated the key support level at 1.1297. A dip of the market will confirm the bearish momentum and a breach of the support level at 1.1254 will lead the currency pair to find support at 1.1198. | ||
| Alternative Scenario | On the other hand, an upward wave would lift the pair to reach the resistance level at 1.1297 and even higher at the daily pivot point (1.1353). | ||
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GBPUSD | H4 | |
| Resistance | 1.5885 | 1.5949 | 1.5990 |
| Support | 1.5781 | 1.5740 | 1.5676 |
| Primary Scenario | GBPUSD has just breached the support level at 1.5781, a critical level. A further drop of the market signals a deeper correction towards the forthcoming support levels at 1.5740 and 1.5676. | ||
| Alternative Scenario | A higher thrust of the exchange rate will trigger the market to penetrate the resistance at 1.5781 and further up to the daily pivot at 1.5845. | ||
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USDCHF | H4 | |
| Resistance | 0.9239 | 0.9265 | 0.9307 |
| Support | 0.9171 | 0.9129 | 0.9103 |
| Primary Scenario | A strong upward movement led USDCHF to eliminate the resistance levels at 0.9239 and 0.9265. If the pair manages to extend its uptrend, the next resistance is seen at 0.9307. | ||
| Alternative Scenario | A plunge of the pair will lead the market below the support level at 0.9265 to find support at 0.9239. | ||
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USDJPY | H4 | |
| Resistance | 123.84 | 124.14 | 124.43 |
| Support | 123.44 | 123.01 | 122.46 |
| Primary Scenario | After successfully surpassing the lower level of the Kumo, USDJPY has entered within the cloud. A fruitless attempt to move higher will most likely lead the pair to retest and breach the support at 123.44, with immediate target the forthcoming support level at 123.01. | ||
| Alternative Scenario | Alternatively, any forceful attempt to exceed the hurdle at 123.84 will fuel the pair to hit the upper level of the cloud (124.14). | ||
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AUDUSD | H4 | |
| Resistance | 0.7774 | 0.7822 | 0.7849 |
| Support | 0.7699 | 0.7672 | 0.7623 |
| Primary Scenario | AUDUSD is now testing the support level at 0.7699. Any decisive movement to the south will push prices to violate this level, targeting the forthcoming support levels at 0.7672 and 0.7623. | ||
| Alternative Scenario | A surge of the currency pair will generate strength for the market to target the daily pivot point at 0.7747. | ||
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Source:: EURUSD: High volatility.
