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GBPUSD is hovering above the daily pivot at 1.4392.
| EURUSD | H4 | ||
| Resistance | 1.0940 | 1.0967 | 1.0996 |
| Support | 1.0885 | 1.0856 | 1.0829 |
| Primary Scenario | EURUSD is gyrating the daily pivot point (1.0912). A daily close above this level will trigger the market to retest the hurdle at 1.0940. A successful penetration would lead the market towards 1.0967. | ||
| Alternative Scenario | If the pair manages to breach the daily pivot, the next support is seen at 1.0885. | ||
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GBPUSD | H4 | |
| Resistance | 1.4459 | 1.4512 | 1.4579 |
| Support | 1.4339 | 1.4272 | 1.4219 |
| Primary Scenario | The pair is hovering above the daily pivot at 1.4392 and has a scope to target the resistance at 1.4459. If GBPUSD achieves to extend its momentum, it will climb towards the forthcoming level at 1.4512. | ||
| Alternative Scenario | On the other hand, a plunge of the market below the daily pivot will push prices to find support at 1.4339. | ||
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USDCHF | H4 |  |
| Resistance | 1.0211 | 1.0244 | 1.0265 |
| Support | 1.0157 | 1.0136 | 1.0103 |
| Primary Scenario | USDCHF is currently trading below the daily pivot point at 1.0190. Further drop of the market will open the way down to 1.0157 and then lower at 1.0136. | ||
| Alternative Scenario | A higher thrust of the currency pair will lift the exchange rate above the daily pivot, with immediate target the resistance at 1.0211. | ||
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USDJPY | H4 | |
| Resistance | 119.77 | 120.05 | 120.57 |
| Support | 119.40 | 119.05 | 118.37 |
| Primary Scenario | The pair is attempting to end its correction course. If that happens, USDJPY will surpass the hurdle at 119.77, targeting the resistance level at 120.05 and even higher at 120.57. | ||
| Alternative Scenario | Alternatively, a deeper correction of the pair below the key support at 119.40 will push the rate to find support at 119.05. | ||
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AUDUSD | H4 | |
| Resistance | 0.7098 | 0.7160 | 0.7193 |
| Support | 0.7003 | 0.6971 | 0.6909 |
| Primary Scenario | AUDUSD eyes the important support level at 0.7003. A break back below this level will pave the path down to 0.6971 and further down to 0.6909. | ||
| Alternative Scenario. | A bounce up from current levels would fuel the pair to penetrate the daily pivot (0.7066), targeting the next resistance level at 0.7098. | ||
The post GBPUSD is hovering above the daily pivot at 1.4392. appeared first on FXTM Blog.
Source:: GBPUSD is hovering above the daily pivot at 1.4392.
