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EURUSD turned sharply bearish in the previous session.
| EURUSD | H4 | ||
| Resistance | 1.1141 | 1.1277 | 1.1347 |
| Support | 1.0936 | 1.0866 | 1.0730 |
| Primary Scenario | EURUSD turned sharply bearish in the previous session. If the pair achieves to violate the important support at 1.0936, it will drop down to 1.0866 and even lower at 1.0730. | ||
| Alternative Scenario | Alternatively, an attempt of the market to react will bring the market into a correction course towards the daily pivot at 1.1071 and then higher at 1.1141. RSI supports this outlook. | ||
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GBPUSD | H4 | |
| Resistance | 1.5629 | 1.5773 | 1.5858 |
| Support | 1.5399 | 1.5314 | 1.5170 |
| Primary Scenario | The trend has been overall neutral in the previous week. Any decisive movement to the south will push prices to breach the barrier at 1.5399, with immediate target the support levels at 1.5314 and 1.5170. | ||
| Alternative Scenario | A higher thrust of the exchange rate will lift GBPUSD to reach the daily pivot point at 1.5544. The next resistance is seen at 1.5629. | ||
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USDCHF | H4 |  |
| Resistance | 0.9496 | 0.9561 | 0.9667 |
| Support | 0.9325 | 0.9219 | 0.9154 |
| Primary Scenario | USDCHF is negotiating at May’s heights. If the pair manages to extend its uptrend, it will target the resistance levels at 0.9496 and then higher at 0.9561. | ||
| Alternative Scenario | A setback of the currency pair will push the market below the daily pivot (0.9390) and even lower at 0.9321. | ||
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USDJPY | H4 | |
| Resistance | 122.02 | 122.25 | 122.72 |
| Support | 121.47 | 121.19 | 120.78 |
| Primary Scenario | The market is trading near a multi-month high. If the bulls achieve to take control of the bears, the next resistance is estimated at 122.02 and then higher at 122.25. | ||
| Alternative Scenario | A plunge of USDJPY below the support at 121.47 will lead the pair to reach the Tenkan-sen at 121.19. | ||
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AUDUSD | H4 | |
| Resistance | 0.7900 | 0.7975 | 0.8021 |
| Support | 0.7779 | 0.7734 | 0.7658 |
| Primary Scenario | AUDUSD has finally managed to violate the daily pivot point (0.7855). Should the pair manage to break the support at 0.7779, it will drop further down to 0.7734. | ||
| Alternative Scenario | An upward wave would push the pair to penetrate the daily pivot, targeting the resistance level at 0.7900. | ||
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Source:: EURUSD turned sharply bearish in the previous session.
