EURUSD is pivoting around the daily pivot.

Posted On 26 Jun 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1235	1.1268	1.1309
Support	1.1161	1.1120	1.1087
Primary Scenario	EURUSD is pivoting around the daily pivot point at 1.1194. A decisive movement to the south will lead the market to violate the support level at 1.1161, targeting the next support at 1.1120.
Alternative Scenario	A surge of the currency pair will lift the rate above the daily pivot and further up to 1.1235.

	GBPUSD	H4
Resistance	1.5785	1.5824	1.5878
Support	1.5691	1.5636	1.5597
Primary Scenario	The pair is trading slightly above the daily pivot (1.5730). A bounce up from current levels will trigger GBPUSD to retest the hurdle at 1.5785 and even higher at 1.5824.
Alternative Scenario	A comeback of the exchange rate will push prices below the daily pivot. The next support is seen at 1.5691.

	USDCHF	H4
Resistance	0.9410	0.9458	0.9501
Support	0.9319	0.9276	0.9229
Primary Scenario	USDCHF edged up at 0.9410, before closing below the daily pivot (0.9367). Should the pair achieve to extend its correction, it will find support at 0.9319 and then lower at 0.9276.
Alternative Scenario	An upward wave would lead the exchange rate above the daily pivot, with immediate target the resistance at 0.9410.

	USDJPY	H4
Resistance	123.53	123.75	124.36
Support	123.13	122.90	122.54
Primary Scenario	The pair is now heading towards the lower level of the cloud at 123.13. Any forceful attempt to exit the cloud will generate strength for USDJPY to target the forthcoming support level at 122.90. If that happens, a new bearish outlook will be in effect.
Alternative Scenario	On the other hand, a higher thrust of the pair will fuel the pair to retest the barrier at 123.53.

	AUDUSD	H4
Resistance	0.7759	0.7783	0.7815
Support	0.7703	0.7671	0.7647
Primary Scenario	AUDUSD is gyrating the daily pivot point at 0.7727. If the pair manages to breach the critical support at 0.7703, it will open the way down to 0.7671.
Alternative Scenario	Alternatively, an upside momentum will push the pair to exceed the daily pivot, targeting the resistance level at 0.7759.

The post EURUSD is pivoting around the daily pivot. appeared first on Forex Circles.

Source:: EURUSD is pivoting around the daily pivot.

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