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EURUSD: Negotiating into fresh low
| EURUSD | H4 | ||
| Resistance | 1.1272 | 1.1339 | 1.1382 |
| Support | 1.1163 | 1.1121 | 1.1053 |
| Primary Scenario | EURUSD returned below the daily pivot (1.1230) in the previous session and is now negotiating into fresh low. Further drop of the market would push prices lower, targeting the support level at 1.1163 and then deeper at 1.1121. | ||
| Alternative Scenario | A surge of the pair above the daily pivot will lift the exchange rate towards 1.1272. | ||
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GBPUSD | H4 | |
| Resistance | 1.4221 | 1.4332 | 1.4398 |
| Support | 1.4043 | 1.3978 | 1.3866 |
| Primary Scenario | The pair is trading slightly below the daily pivot at 1.4155. If GBPUSD achieves to extend its bearish momentum, the next support is seen at 1.4043 and further down to 1.3978. | ||
| Alternative Scenario | On the other hand, a successful attempt to penetrate the daily pivot will fuel the pair to retest the hurdle in line at 1.4221. | ||
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USDCHF | H4 |  |
| Resistance | 0.9660 | 0.9688 | 0.9708 |
| Support | 0.9612 | 0.9592 | 0.9564 |
| Primary Scenario | USDCHF is gyrating around the daily pivot point at 0.9640. A decisive movement to the north will accelerate the rate towards the immediate target at 0.9660 and then higher at 0.9688. | ||
| Alternative Scenario | A break back below the daily pivot will open the way down to 0.9612. | ||
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USDJPY | H4 | |
| Resistance | 106.29 | 106.55 | 106.84 |
| Support | 106.08 | 105.83 | 105.61 |
| Primary Scenario | The bearish outlook is still in effect. Should USDJPY manage to breach the support level at 106.08, the next support is estimated at 105.83 and even lower at 105.61. | ||
| Alternative Scenario | Alternatively, a higher thrust of the currency pair will lift the market to retest the barrier at 106.29 and further up to 106.55. | ||
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AUDUSD | H4 | |
| Resistance | 0.7397 | 0.7437 | 0.7470 |
| Support | 0.7323 | 0.7289 | 0.7249 |
| Primary Scenario | AUDUSD bottomed at 0.7330, before retracing above the daily pivot point (0.7363). If the pair manages to withstand the sellers’ pressure, it will climb towards 0.7397 and further up to 0.7437. | ||
| Alternative Scenario | A failed attempt to move higher will push prices to violate the daily pivot, paving the path down to 0.7323. | ||
The post EURUSD: Negotiating into fresh low appeared first on FXTM Blog.
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