EURUSD is negotiating above the daily pivot point at 1.1404.

EURUSD Technical Analysis
Resistance 1.1429 1.1466 1.1491
Support 1.1366 1.1341 1.1304
Primary Scenario EURUSD is negotiating above the daily pivot point at 1.1404. An impulsive movement to the north, will lead the pair to penetrate the hurdle at 1.1429, with immediate target the resistance level at 1.1466.
Alternative Scenario Should the pair manage to breach the daily pivot, it will open the way down to the support level at 1.1366.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5419 1.5446 1.5470
Support 1.5368 1.5344 1.5317
Primary Scenario The pair is poised to test the hurdle at 1.5446. A successful attempt to exceed this level, will most likely lead the exchange rate towards the next target at 1.5470.
Alternative Scenario A comeback of the currency pair will push GBPUSD to violate the support level at 1.5419. The next support is seen at the daily pivot point (1.5395). RSI oscillator supports this outlook.


USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9339 0.9370 0.9406
Support 0.9273 0.9237 0.9207
Primary Scenario USDCHF is gyrating the daily pivot at 0.9304. If the pair achieves to extend its correction course, it will fall further down to 0.9273 and then lower at 0.9237.
Alternative Scenario Alternatively, a higher thrust of the market to surpass the daily pivot will trigger the market to retest the resistance level at 0.9339.


USDJPY Technical Analysis USDJPY H4
Resistance 118.76 119.42 120.47
Support 118.36 118.03 117.35
Primary Scenario The USDJPY pair is now testing the upper level of the cloud. A bounce up from current levels will fuel the pair to penetrate the hurdle at 118.76. The next resistance is estimated at 119.42.
Alternative Scenario On the other hand, a plunge of the pair will lead the market within the Kumo to find support at 118.03.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.7789 0.7824 0.7857
Support 0.7721 0.7688 0.7653
Primary Scenario AUDUSD is now testing the key resistance at 0.7789. A fruitful attempt to eliminate this level, will generate strength for the pair to target the forthcoming resistance at 0.7824.
Alternative Scenario A setback of the market will push prices to find support at 0.7756.


The post EURUSD is negotiating above the daily pivot point at 1.1404. appeared first on Forex Circles.

Source:: EURUSD is negotiating above the daily pivot point at 1.1404.

About the Author
Forex Alchemy is your daily source of cutting edge information, tips, tools, articles, analysis from across the Forex trading industry. If you would like to guest post or contribute regular articles on Forex Alchemy then please contact us here.

Leave a Reply