EURUSD is currently trading above the daily pivot point at 1.0778.

EURUSD Technical Analysis
Resistance 1.0889 1.0956 1.1067
Support 1.0712 1.0600 1.0534
Primary Scenario EURUSD is currently trading above the daily pivot point at 1.0778. Any decisive movement to the north will lead the market to reach and surpass the hurdle at 1.0889 and then higher at 1.0956.
Alternative Scenario Should the pair manage to breach the daily pivot, it will find support at 1.0712.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5096 1.5138 1.5206
Support 1.4986 1.4918 1.4876
Primary Scenario The pair is gyrating the daily pivot at 1.5028. An upward wave would trigger GBPUSD to target the resistance level at 1.5096 and further up at 1.5138.
Alternative Scenario A break back below the daily pivot will push prices to reach the support level at 1.4986.


USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9662 0.9784 0.9851
Support 0.9474 0.9407 0.9285
Primary Scenario USDCHF is now poised to retest the key level at the daily pivot (0.9596). A failed attempt to penetrate this level will most likely lead the exchange rate lower towards the support levels at 0.9474 and 0.9407.
Alternative Scenario A surge of the market would breach the daily pivot point, lifting the currency pair to retest the hurdle at 0.9662.


USDJPY Technical Analysis USDJPY H4
Resistance 119.81 120.08 120.84
Support 119.42 119.05 118.52
Primary Scenario The pair has been trapped within the cloud. Strengthening of the bullish sentiment will lead USDJPY to gain momentum and penetrate the barrier at 119.81, with immediate target the resistance level at 120.08 and then higher at 120.84.
Alternative Scenario On the other hand, a plunge of the exchange rate below the support level at 119.42 will push the market to retest the next target at 119.05.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.7807 0.7838 0.7886
Support 0.7728 0.7679 0.7648
Primary Scenario AUDUSD is oscillating around the daily pivot point (0.7758). If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 0.7807 and 0.7838.
Alternative Scenario Alternatively, a comeback of the pair will lead the market to violate the daily pivot and move lower down to 0.7728.



The post EURUSD is currently trading above the daily pivot point at 1.0778. appeared first on Forex Circles.

Source:: EURUSD is currently trading above the daily pivot point at 1.0778.

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