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EURUSD is hovering below the daily pivot.
| EURUSD | H4 | ||
| Resistance | 1.1015 | 1.1068 | 1.1108 |
| Support | 1.0921 | 1.0882 | 1.0828 |
| Primary Scenario | EURUSD is hovering below the daily pivot point at 1.0975. Further drop of the market will push prices to find support at 1.0921 and then lower at 1.0882. | ||
| Alternative Scenario | An upward wave would lift the currency pair above the daily pivot, with immediate target the resistance level at 1.1015. | ||
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GBPUSD | H4 |  |
| Resistance | 1.5456 | 1.5493 | 1.5542 |
| Support | 1.5371 | 1.5322 | 1.5286 |
| Primary Scenario | The pair has finished its correction course and is now trading above the daily pivot (1.5408). If GBPUSD manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 1.5456 and 1.5493. | ||
| Alternative Scenario | A comeback of the exchange rate will lead the pair below the daily pivot, paving the way down to 1.5371. | ||
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USDCHF | H4 | |
| Resistance | 0.9939 | 0.9972 | 1.0020 |
| Support | 0.9858 | 0.9810 | 0.9777 |
| Primary Scenario | USDCHF surged above the daily pivot point at 0.9891 and is now heading towards the barrier at 0.9939. A successful attempt to penetrate this level will trigger the market to hit the forthcoming resistance level at 0.9972. | ||
| Alternative Scenario | On the other hand, a plunge of the rate below the daily pivot will open the way down to 0.9858. | ||
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USDJPY | H4 | |
| Resistance | 121.20 | 121.47 | 122.01 |
| Support | 120.97 | 120.69 | 120.30 |
| Primary Scenario | The pair is negotiating above the Kumo with bullish implications. Should USDJPY achieve to eliminate the hurdle in line at 121.20 and 121.47, the next resistance is estimated at 122.01. | ||
| Alternative Scenario | Alternatively, a break back below the Tenkan-sen line (120.97) will lead the pair to find support at 120.69. | ||
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AUDUSD | H4 | |
| Resistance | 0.7227 | 0.7270 | 0.7322 |
| Support | 0.7132 | 0.7080 | 0.7037 |
| Primary Scenario | AUDUSD is trading near the previous high. If the pair manages to extend its uptrend, it will exceed the hurdle at 0.7227, fueling an uptick towards the resistance level at 0.7270 and even higher at 0.7322. | ||
| Alternative Scenario. | A tumble of the market will push the pair to breach the daily pivot, targeting the support level at 0.7132. | ||
The post EURUSD is hovering below the daily pivot. appeared first on Forex Circles.
