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EURUSD: Price is trapped around the daily pivot at 1.1317.
| EURUSD | H4 | ||
| Resistance | 1.1364 | 1.1406 | 1.1453 |
| Support | 1.1275 | 1.1228 | 1.1186 |
| Primary Scenario | Price is trapped around the daily pivot (1.1317), lacking a clear direction. A decisive movement to the north will trigger the market to penetrate the hurdle at 1.1364, targeting the resistance level at 1.1406. | ||
| Alternative Scenario | A plunge of EURUSD below the daily pivot, will put pressure for the market to find support at 1.1275. | ||
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GBPUSD | H4 | |
| Resistance | 1.5253 | 1.5292 | 1.5319 |
| Support | 1.5187 | 1.5161 | 1.5121 |
| Primary Scenario | GBPUSD recovered from the previous bottom and it is now heading towards the resistance level at 1.5253. A successful surpass of this level will lift the market higher up to the next target at 1.5292. | ||
| Alternative Scenario | A failed attempt to move higher will lead the exchange rate to breach the daily pivot at 1.5227. The next support is seen at 1.5187. | ||
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USDCHF | H4 |  |
| Resistance | 0.9280 | 0.9327 | 0.9370 |
| Support | 0.9189 | 0.9146 | 0.9099 |
| Primary Scenario | The trading range is limited to 0.9189 and 0.9280. If the bears manage to take control and overweight the bulls’ pressure, USDCHF will attempt to violate the barrier at 0.9189. If that happens, the next support is seen at 0.9146. | ||
| Alternative Scenario | An upward wave would fuel the pair to exceed the daily pivot, with immediate target the resistance level at 0.9280. | ||
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USDJPY | H4 | |
| Resistance | 118.76 | 119.21 | 119.88 |
| Support | 118.32 | 117.84 | 117.17 |
| Primary Scenario | The strength of the market faded, but the bullish scenario is still in effect. Any fruitful movement upwards to penetrate the hurdle at 118.76 will lead the pair towards the forthcoming resistance at 119.21. | ||
| Alternative Scenario | Alternatively, a breach of the support at 118.32 will open the way down to 117.84. | ||
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AUDUSD | H4 | |
| Resistance | 0.7840 | 0.7880 | 0.7926 |
| Support | 0.7753 | 0.7707 | 0.7667 |
| Primary Scenario | AUDUSD is poised to retest the hurdle at 0.7840. A successful penetration of this level will generate strength for the market to target the resistance level at 0.7880. | ||
| Alternative Scenario | A comeback of the pair will push prices to find support at the daily pivot point at 0.7793 and even lower at 0.7753. | ||
The post EURUSD: Price is trapped around the daily pivot at 1.1317. appeared first on Forex Circles.
Source:: EURUSD: Price is trapped around the daily pivot at 1.1317.
