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EURUSD is now testing the key support level at 1.1030.
| EURUSD | H4 | ||
| Resistance | 1.1154 | 1.1231 | 1.1278 |
| Support | 1.1030 | 1.0983 | 1.0906 |
| Primary Scenario | EURUSD is now testing the key support level at 1.1030. A break below this level will push prices to find support at 1.0983. Further drop of the market will lead the exchange rate lower towards the next target at 1.0906. | ||
| Alternative Scenario | An upward wave would trigger the market to penetrate the daily pivot at 1.1107 and then higher at 1.1154. RSI oscillator supports this outlook. | ||
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GBPUSD | H4 | |
| Resistance | 1.5339 | 1.5415 | 1.5459 |
| Support | 1.5219 | 1.5175 | 1.5099 |
| Primary Scenario | The pair is heading towards the support level at 1.5219. A successful attempt to violate this level will open the way down to 1.5175. | ||
| Alternative Scenario | A failed attempt to move lower will lead the market to a correction phase towards the daily pivot at 1.5295. RSI is trading at 24 within an oversold territory. | ||
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USDCHF | H4 |  |
| Resistance | 0.9671 | 0.9715 | 0.9754 |
| Support | 0.9587 | 0.9548 | 0.9504 |
| Primary Scenario | USDCHF is negotiating near the hurdle at 0.9671. A fruitful movement upwards will lift the pair above this level, targeting the forthcoming resistance at 0.9715 and then higher at 0.9754. | ||
| Alternative Scenario | A plunge of the pair below the daily pivot will push the pair to find support at 0.9587. | ||
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USDJPY | H4 | |
| Resistance | 119.89 | 120.25 | 120.47 |
| Support | 119.67 | 119.37 | 119.14 |
| Primary Scenario | USDJPY is now poised to retest the resistance level at 119.89. Should the pair achieve to penetrate this level, it will climb towards the next target at 120.25. | ||
| Alternative Scenario | A setback of the market will lead the pair to hit the support at 119.67. | ||
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AUDUSD | H4 | |
| Resistance | 0.7851 | 0.7887 | 0.7916 |
| Support | 0.7786 | 0.7758 | 0.7722 |
| Primary Scenario | The pair is gyrating the daily pivot at 0.7823. A decisive movement to the south will push prices to reach the support at 0.7786. The next support is seen at 0.7758. | ||
| Alternative Scenario | Alternatively, a higher thrust of AUDUSD will fuel the pair to exceed the daily pivot and even higher at 0.7851. | ||
The post EURUSD is now testing the key support level at 1.1030. appeared first on Forex Circles.
Source:: EURUSD is now testing the key support level at 1.1030.
