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EURUSD is now testing the daily pivot point at 1.0905.
| EURUSD | H4 | ||
| Resistance | 1.0947 | 1.1023 | 1.1065 |
| Support | 1.0829 | 1.0787 | 1.0712 |
| Primary Scenario | EURUSD is now testing the daily pivot point at 1.0905. A failed attempt to penetrate this level will push prices lower towards the support level at 1.0829 and further down to 1.0787. | ||
| Alternative Scenario | An upward wave would lift the exchange rate above the daily pivot, with immediate target the resistance at 1.0947. | ||
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GBPUSD | H4 |  |
| Resistance | 1.5454 | 1.5524 | 1.5575 |
| Support | 1.5332 | 1.5282 | 1.5211 |
| Primary Scenario | The pair has just surpassed the daily pivot (1.5403). If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 1.5454 and 1.5524. | ||
| Alternative Scenario | A plunge of GBPUSD below the daily pivot will open the way down to 1.5332. | ||
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USDCHF | H4 | |
| Resistance | 0.9562 | 0.9595 | 0.9654 |
| Support | 0.9470 | 0.9410 | 0.9378 |
| Primary Scenario | USDCHF edged up at 0.9537, before retracing at the daily pivot at 0.9503. A deeper correction of the currency pair will push the rate down to 0.9470 and even lower at 0.9410. | ||
| Alternative Scenario | On the other hand, if the bulls achieve to take control of the bears, the next resistance is seen at 0.9562. | ||
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USDJPY | H4 | |
| Resistance | 123.31 | 123.89 | 124.41 |
| Support | 122.91 | 122.39 | 121.95 |
| Primary Scenario | The USDJPY pair is trading near the previous top. A decisive thrust of the hurdle at 123.31 will trigger the market to target the forthcoming resistance levels at 123.89 and then higher at 124.41. | ||
| Alternative Scenario | A reversal back below the support level at 122.91 will lead the market to find support at 122.39. RSI is trading within the overbought territory. | ||
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AUDUSD | H4 | |
| Resistance | 0.7806 | 0.7878 | 0.7918 |
| Support | 0.7694 | 0.7654 | 0.7582 |
| Primary Scenario | AUDUSD has dropped further in the today’s session. If the pair manages to extend its downtrend, it will target the forthcoming support level at 0.7694 and even lower at 0.7654. | ||
| Alternative Scenario | A higher thrust of the market will generate strength for the exchange rate to exceed the daily pivot point (0.7766), setting the way up towards the resistance at 0.7806. | ||
The post EURUSD is now testing the daily pivot point at 1.0905. appeared first on Forex Circles.
Source:: EURUSD is now testing the daily pivot point at 1.0905.
