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EURUSD is trading slightly above the daily pivot.
| EURUSD | H4 | ||
| Resistance | 1.1387 | 1.1414 | 1.1440 |
| Support | 1.1334 | 1.1308 | 1.1281 |
| Primary Scenario | EURUSD is trading slightly above the daily pivot at 1.1361. A bounce up from current levels will fuel the pair to reach the resistance level at 1.1387 and further up at 1.1414. | ||
| Alternative Scenario | Should the pair manage to breach the daily pivot, the next support is seen at 1.1334. | ||
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GBPUSD | H4 | |
| Resistance | 1.5561 | 1.5595 | 1.5652 |
| Support | 1.5469 | 1.5412 | 1.5377 |
| Primary Scenario | The pair is heading towards the resistance level at 1.5561, a multi-month high. If GBPUSD manages to withstand the sellers’ pressure, it will surpass this level, with immediate target the next resistance at 1.5595. | ||
| Alternative Scenario | A comeback of the market will push the pair to find support at the daily pivot point (1.5503). | ||
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USDCHF | H4 | |
| Resistance | 0.9506 | 0.9530 | 0.9552 |
| Support | 0.9460 | 0.9439 | 0.9415 |
| Primary Scenario | USDCHF is oscillating around the daily pivot at 0.9485. A decisive movement to the north will trigger the market to penetrate the hurdle at 0.9506. The next resistance is seen at 0.9530. | ||
| Alternative Scenario | A plunge of the exchange rate below the daily pivot will open the way down to 0.9460. | ||
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USDJPY | H4 |  |
| Resistance | 119.05 | 119.34 | 119.83 |
| Support | 118.85 | 118.61 | 118.29 |
| Primary Scenario | USDJPY is negotiating within the cloud. Any forceful movement to the south will most likely lead the market to violate the support level at 118.85. If that happens, the currency pair will exit the Kumo and the next support is estimated at 118.61 and even lower at 118.29. | ||
| Alternative Scenario | Alternatively, if the pair achieves to exceed the barrier at 119.05 it will target the upper level of the could at 119.34. | ||
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AUDUSD | H4 | |
| Resistance | 0.7916 | 0.7947 | 0.7993 |
| Support | 0.7838 | 0.7791 | 0.7760 |
| Primary Scenario | The pair edged up at 0.7900, before closing below the daily pivot at 0.7869. Further drop of AUDUSD will lead the market to breach the support at 0.7838 and then lower at 0.7791. | ||
| Alternative Scenario | A higher thrust of the exchange rate will lift the market above the daily pivot and further up at 0.7916. | ||
The post EURUSD is trading slightly above the daily pivot. appeared first on Forex Circles.
