EURUSD is hovering below the daily pivot.

EURUSD Technical Analysis
Resistance 1.2336 1.2387 1.2422
Support 1.2249 1.2214 1.2163
Primary Scenario EURUSD is hovering below the daily pivot (1.2300). Any forceful momentum downwards will push the exchange rate to target the support level at 1.2249 and subsequently lower at 1.2214.
Alternative Scenario Should the pair manage to exceed the daily pivot, it will climb towards the resistance at 1.2336. RSI oscillator supports this outlook.


GBPUSD Technical Analysis GBPUSD H4 Up Trend
Resistance 1.5713 1.5759 1.5841
Support 1.5584 1.5502 1.5456
Primary Scenario The pair recovered from the previous low and it is currently trading above the daily pivot at 1.5630. If GBPUSD manages to withstand the sellers’ pressure, it will move higher towards the resistance levels at 1.5713 and 1.5759.
Alternative Scenario A plunge of the market below the daily pivot, will push prices to find support at 1.5584.


USDCHF Technical Analysis USDCHF H4 Up Trend
Resistance 0.9856 0.9915 0.9982
Support 0.9730 0.9662 0.9604
Primary Scenario USDCHF surged above the daily pivot (0.9788) in the previous session. If the pair achieves to extend its momentum, it will lift prices to reach the next resistance at 0.9856 and further up at 0.9915.
Alternative Scenario A comeback of the currency pair, will lead USDCHF below the daily pivot point and even lower at 0.9730. RSI is trading in an overbought territory.


USDJPY Technical Analysis USDJPY H4 Up Trend
Resistance 119.64 120.10 120.75
Support 118.84 118.27 117.78
Primary Scenario The pair is heading towards the upper level of the cloud at 119.64. A successful penetration of this level, will bring the market into a bullish sentiment. The next resistance is seen at 120.10.
Alternative Scenario A reversal back of the USDJPY pair, will lead the market south, down to the support level at 118.84 and even lower at 118.27.


AUDUSD Technical Analysi AUDUSD H4 Up Trend
Resistance 0.8204 0.8247 0.8291
Support 0.8118 0.8073 0.8031
Primary Scenario AUDUSD is oscillating above the daily pivot zone at 0.8160. A decisive movement to the north, will generate strength for the market to reach the hurdle at 0.8204. Further increase of the exchange rate, will lead the pair to the next resistance at 0.8247.
Alternative Scenario A failed attempt to move higher, will push the market to find support at the daily pivot and then lower at 0.8118.


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Source:: EURUSD is hovering below the daily pivot.

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