Previous Story
EURUSD under pressure.
| EURUSD | H4 | ||
| Resistance | 1.0880 | 1.0932 | 1.0958 |
| Support | 1.0801 | 1.0775 | 1.0722 |
| Primary Scenario | EURUSD is following a downtrend. If the pair manages to extend its bearish momentum, it will target the forthcoming support level at 1.0801 and further down to 1.0775. | ||
| Alternative Scenario | A higher thrust of the exchange rate will lift the market above the daily pivot (1.0853) towards the resistance level at 1.0880. RSI oscillator is trading slightly within the oversold zone. | ||
 |
GBPUSD | H4 | |
| Resistance | 1.5663 | 1.5725 | 1.5780 |
| Support | 1.5546 | 1.5491 | 1.5428 |
| Primary Scenario | The pair has been trapped between the support level at 1.5546 and the resistance level at 1.5663. Any forceful movement to the south will push prices to violate the barrier at 1.5546, with immediate target the support level at 1.5491. | ||
| Alternative Scenario | Should GBPUSD manage to penetrate the daily pivot, it will target the resistance level at 1.5663. | ||
 |
USDCHF | H4 |  |
| Resistance | 0.9637 | 0.9658 | 0.9699 |
| Support | 0.9575 | 0.9535 | 0.9514 |
| Primary Scenario | USDCHF surged near a multi-month high at 0.9637. If the pair manages to withhold the sellers’ pressure, it will exceed this level, targeting the forthcoming resistance levels at 0.9658 and 0.9699. | ||
| Alternative Scenario | A comeback of the market will push the pair to face the daily pivot point at 0.9596. RSI supports this outlook. | ||
 |
USDJPY | H4 | |
| Resistance | 124.23 | 124.70 | 125.04 |
| Support | 123.91 | 123.64 | 123.24 |
| Primary Scenario | The pair has experienced strong resistance at 124.23. A successful attempt to surpass this barrier will trigger the market to target the resistance level at 124.70 and even higher at 125.04. | ||
| Alternative Scenario | A plunge of the market will lead USDJPY to find support at 123.91 and further down to 123.64. | ||
 |
AUDUSD | H4 | |
| Resistance | 0.7403 | 0.7435 | 0.7454 |
| Support | 0.7351 | 0.7333 | 0.7300 |
| Primary Scenario | AUDUSD is now poised to breach the obstacle at 0.7351 and to retest the support level at 0.7333. The next support is seen at 0.7300. | ||
| Alternative Scenario | An upward wave would lead the market to hit the daily pivot at 0.7384 and even higher at 0.7403. | ||
The post EURUSD under pressure. appeared first on Forex Circles.
Source:: EURUSD under pressure.
