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EURUSD surged into fresh highs.
| EURUSD | H4 | ||
| Resistance | 1.1419 | 1.1492 | 1.1614 |
| Support | 1.1224 | 1.1102 | 1.1029 |
| Primary Scenario | EURUSD surged into fresh highs. If the positive momentum continues, the next resistance is seen at 1.1419 and even higher at 1.1492. | ||
| Alternative Scenario | A setback of the prices below the daily pivot point at 1.1297 will bring the market down to 1.1224. | ||
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GBPUSD | H4 | |
| Resistance | 1.5306 | 1.5368 | 1.5447 |
| Support | 1.5165 | 1.5087 | 1.5024 |
| Primary Scenario | The pair is negotiating slightly above the daily pivot (1.5228). Any decisive movement to the north will most likely trigger the market to retest the hurdle at 1.5306. A successful attempt to surpass this level will fuel GBPUSD further towards the next target at 1.5368. | ||
| Alternative Scenario | Should the market achieve to breach the daily pivot, it will find support at 1.5165. | ||
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USDCHF | H4 |  |
| Resistance | 0.9253 | 0.9349 | 0.9420 |
| Support | 0.9087 | 0.9017 | 0.8921 |
| Primary Scenario | USDCHF is following a downtrend. If the pair manages to extend its bearish momentum, it will target the forthcoming support level at 0.9087 and then lower at 0.9017. | ||
| Alternative Scenario | A higher thrust of the currency pair to penetrate the daily pivot will lead the market to eye the resistance at 0.9253. RSI oscillator supports this outlook. | ||
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USDJPY | H4 | |
| Resistance | 119.60 | 120.05 | 120.50 |
| Support | 119.29 | 118.97 | 118.49 |
| Primary Scenario | USDJPY is gyrating above the upper level of the cloud. A bounce up from current levels will generate strength for the exchange rate to penetrate the barrier at 119.60, targeting the forthcoming resistance at 120.05. | ||
| Alternative Scenario | On the other hand, any forceful movement to the south will bring the market within the cloud, opening the way down to 118.97. | ||
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AUDUSD | H4 | |
| Resistance | 0.8026 | 0.8084 | 0.8138 |
| Support | 0.7915 | 0.7860 | 0.7803 |
| Primary Scenario | The pair is hovering around the daily pivot point (0.7972). A fruitful attempt to break through the critical resistance at 0.8026 will lift AUDUSD towards 0.8084. | ||
| Alternative Scenario | Alternatively, a comeback of the market below the daily pivot will push prices lower down to 0.7915. | ||
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Source:: EURUSD surged into fresh highs.
