EURUSD tumbled below the daily pivot at 1.2392.

EURUSD Technical Analysis
EURUSD H4
Resistance 1.2463 1.2586 1.2657
Support 1.2270 1.2198 1.2076
Primary Scenario The pair tumbled below the daily pivot at 1.2392. If EURUSD manages to extend its downtrend, it will fall further down to test the support level at 1.2270 and even lower at 1.2198.
Alternative Scenario On the other hand, a higher thrust of the market will lead the exchange rate to penetrate the daily pivot, targeting the resistance level at 1.2463.

EURUSDH4

GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5702 1.5831 1.5910
Support 1.5493 1.5414 1.5285
Primary Scenario A dip of the market led the currency rate below the daily pivot (1.5622). A sustained trading below this level, will most likely push GBPUSD to find support at 1.5493. The next support is seen at 1.5414.
Alternative Scenario Should the pair manage to exceed the daily pivot, it will eye the resistance level at 1.5702.

GBPUSDH4

USDCHF Technical Analysis USDCHF H4 Up Trend
Resistance 0.9784 0.9839 0.9934
Support 0.9633 0.9538 0.9483
Primary Scenario USDCHF surged above the daily pivot. If the pair manages to withstand the sellers’ pressure, it will hit the resistance level at 0.9784 and then higher at 0.9839.
Alternative Scenario A reversal back of the market, will most likely open the way down to the daily pivot and even lower at 0.9633.

USDCHFH4

USDJPY Technical Analysis USDJPY H4
Resistance 119.00 119.64 120.10
Support 118.33 117.65 116.81
Primary Scenario The USDJPY pair has tested the resistance at the lower level of the Kumo, 119.00. A fruitless attempt to break through this barrier, will push the pair to violate the support level at 118.33. Further drop of the market, will lead the rate to meet the forthcoming support at 117.65.
Alternative Scenario A successful attempt to penetrate the hurdle at 119.00, will target the next resistance at the upper level of the cloud, 119.64.

USDJPYH4

AUDUSD Technical Analysi AUDUSD H4
Resistance 0.8201 0.8282 0.8330
Support 0.8072 0.8024 0.7943
Primary Scenario AUDUSD is trading below the daily pivot at 0.8153. A decisive movement to the south, will pave the way down to the support level at 0.8072 and further down to 0.8024.
Alternative Scenario Alternatively, an upward wave will trigger the market to surpass the daily pivot and set the goal to retest the next resistance at 0.8201.

AUDUSDH4

The post EURUSD tumbled below the daily pivot at 1.2392. appeared first on Forex Circles.

Source:: EURUSD tumbled below the daily pivot at 1.2392.

About the Author
Forex Alchemy is your daily source of cutting edge information, tips, tools, articles, analysis from across the Forex trading industry. If you would like to guest post or contribute regular articles on Forex Alchemy then please contact us here.

Leave a Reply

*