EURUSD is trading near the previous low.

Posted On 02 Mar 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.0894	1.0923	1.0953
Support	1.0835	1.0804	1.0776
Primary Scenario	EURUSD is trading near the previous low. Should the pair achieve to violate the key support level at 1.0835, it will target the forthcoming support in line at 1.0804 and even lower at 1.0776.
Alternative Scenario	A surge of the currency pair above the daily pivot will lead prices to retest the hurdle at 1.0894.

	GBPUSD	H4
Resistance	1.4010	1.4071	1.4124
Support	1.3896	1.3843	1.3782
Primary Scenario	The pair experienced strong resistance below the resistance level at 1.4010. A decisive movement to the north will trigger the market to penetrate this level, with immediate target the resistance at 1.4071.
Alternative Scenario	Alternatively, a tumble of the market below the daily pivot (1.3957) will push prices to find support at 1.3896.

	USDCHF	H4
Resistance	0.9999	1.0028	1.0048
Support	0.9950	0.9930	0.9901
Primary Scenario	USDCHF is oscillating around the daily pivot point at 0.9979. If the pair manages to exceed the hurdle at 0.9999, it will climb towards the resistance level at 1.0028 and further up to 1.0048.
Alternative Scenario	A plunge of the market below the daily pivot will pave the path down to 0.9950.

	USDJPY	H4
Resistance	114.17	114.87	115.53
Support	113.69	112.93	112.14
Primary Scenario	The pair is now intend to surpass the barrier at 114.17. A successful attempt of the market to exceed this level will generate strength for USDJPY to reach the forthcoming level at 114.87. Further increase of the rate would lead the market to hit the resistance level at 115.53.
Alternative Scenario	On the other hand, a reversal back below the support at 113.69 will open the way down to 112.93.

	AUDUSD	H4
Resistance	0.7207	0.7240	0.7289
Support	0.7124	0.7074	0.7041
Primary Scenario	AUDUSD is now testing the resistance at 0.7240, after clearing the key level at 0.7207. If the pair manages to withstand the sellers’ pressure, it will target the next resistance at 0.7289.
Alternative Scenario	A comeback of the market will push the pair down to 0.7207 and even lower to the daily pivot at 0.7157.

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Source:: EURUSD is trading near the previous low.

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