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EURUSD intends to penetrate the resistance level at 1.1008.
| EURUSD | H4 | ||
| Resistance | 1.1008 | 1.1037 | 1.1079 |
| Support | 1.0938 | 1.0896 | 1.0868 |
| Primary Scenario | EURUSD intends to penetrate the hurdle at 1.1008. If that happens, the next resistance is seen at 1.1037 and even higher at 1.1079. | ||
| Alternative Scenario | A tumble of the market will lead the pair to find support at the daily pivot point at 1.0938. | ||
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GBPUSD | H4 | |
| Resistance | 1.5530 | 1.5557 | 1.5589 |
| Support | 1.5471 | 1.5439 | 1.5412 |
| Primary Scenario | The pair is now testing the critical resistance at 1.5530. A successful attempt to surpass this level will most likely trigger the market to target the resistance level at 1.5557 and further up to 1.5589. | ||
| Alternative Scenario | On the other hand, a plunge of GBPUSD will lead the market to face the daily pivot (1.5498) and then lower at 1.5471. | ||
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USDCHF | H4 |  |
| Resistance | 0.9646 | 0.9671 | 0.9708 |
| Support | 0.9584 | 0.9547 | 0.9522 |
| Primary Scenario | USDCHF is oscillating around the daily pivot point at 0.9609. A decisive movement to the south will push prices to find support at 0.9584. Further drop of the market will lead the exchange rate to hit the support level at 0.9547. | ||
| Alternative Scenario | An upward wave would generate strength for the market to exceed the daily pivot, with immediate target the resistance at 0.9646. | ||
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USDJPY | H4 | |
| Resistance | 123.74 | 124.09 | 124.47 |
| Support | 123.24 | 122.91 | 122.52 |
| Primary Scenario | The USDJPY pair has entered within the cloud, after a violation of the upper level of the Kumo. A comeback of the market will lift the currency pair to breach the hurdle at 123.74, targeting the resistance level at 124.09. | ||
| Alternative Scenario | A deeper correction within the cloud will see the support levels at 123.24 and even lower at 122.91. | ||
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AUDUSD | H4 | |
| Resistance | 0.7340 | 0.7401 | 0.7442 |
| Support | 0.7238 | 0.7197 | 0.7136 |
| Primary Scenario | AUDUSD is negotiating slightly below the daily pivot at 0.7299. Any downward momentum will push the pair to reach the support level at 0.7238 and then lower at 0.7197. | ||
| Alternative Scenario | A higher thrust of the market will fuel the pair to penetrate the daily pivot. The next resistance is seen at 0.7340. | ||
The post EURUSD intends to penetrate the resistance level at 1.1008. appeared first on Forex Circles.
Source:: EURUSD intends to penetrate the resistance level at 1.1008.
