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EURUSD is trading near the fresh top at 1.1192.
| EURUSD | H4 | ||
| Resistance | 1.1256 | 1.1362 | 1.1533 |
| Support | 1.0979 | 1.0808 | 1.0702 |
| Primary Scenario | EURUSD is trading near the fresh top at 1.1192. If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance level at 1.1256 and then higher at 1.1362. RSI is negotiating within the overbought territory. | ||
| Alternative Scenario | A reversal back below the daily pivot point (1.1085) will push prices to find support at 1.0979. | ||
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GBPUSD | H4 | |
| Resistance | 1.5412 | 1.5483 | 1.5599 |
| Support | 1.5225 | 1.5108 | 1.5038 |
| Primary Scenario | The pair is now poised to retest the hurdle in line at 1.5412. Any successful attempt to penetrate this level will most likely lift GBPUSD to target the forthcoming resistance at 1.5483. | ||
| Alternative Scenario | A comeback of the currency pair will lead the rate to breach the daily pivot at 1.5295, pushing the market lower towards the support level at 1.5225. | ||
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USDCHF | H4 |  |
| Resistance | 0.9426 | 0.9525 | 0.9584 |
| Support | 0.9269 | 0.9210 | 0.9111 |
| Primary Scenario | USDCHF is following a downtrend. Should the pair achieve to violate the support level at 0.9269, the next support is seen at 0.9210. | ||
| Alternative Scenario | Alternatively, an upward wave would fuel the pair to exceed the daily pivot at 0.9367, with immediate target the resistance level at 0.9426. | ||
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USDJPY | H4 | |
| Resistance | 124.28 | 125.05 | 125.93 |
| Support | 123.74 | 122.99 | 122.18 |
| Primary Scenario | The strength of the market faded, but USDJPY is still trading with a bullish sentiment. A decisive movement to the north will generate strength for the exchange rate to surpass the barrier at 124.28, targeting the next resistance level at 125.05. | ||
| Alternative Scenario | A break back below the support level at 123.74 will push the pair to find support at the upper level of the cloud (122.99). | ||
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AUDUSD | H4 | |
| Resistance | 0.7839 | 0.7907 | 0.8026 |
| Support | 0.7652 | 0.7534 | 0.7466 |
| Primary Scenario | An aggressive bullish momentum led AUDUSD even higher in the today’s morning session. If the pair achieves to extend its momentum, the pair will eliminate the hurdle at 0.7839 and the next resistance is seen at 0.7907 and 0.8026. | ||
| Alternative Scenario | A plunge of the market below the daily pivot point (0.7721) will open the way down to 0.7652. | ||
The post EURUSD is trading near the fresh top at 1.1192. appeared first on Forex Circles.
