EURUSD is now testing the daily pivot point at 1.0905.

EURUSD Technical Analysis
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.


GBPUSD Technical Analysis GBPUSD H4 Up Trend
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.


USDCHF Technical Analysis 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.


USDJPY Technical Analysis USDJPY H4 Up Trend
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.


AUDUSD Technical Analysi AUDUSD H4 Up Trend
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.

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