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GBPUSD is revolving the daily pivot at 1.5605.
| EURUSD | H4 | ||
| Resistance | 1.1198 | 1.1247 | 1.1307 |
| Support | 1.1089 | 1.1030 | 1.0980 |
| Primary Scenario | EURUSD bounced up from the previous bottom and is now trading above the daily pivot at 1.1138. If the bulls manage to overweight the bears pressure, the pair will retest the hurdle at 1.1198 and even higher the resistance level at 1.1247. | ||
| Alternative Scenario | Alternatively, a comeback of the market will push prices below the daily pivot, targeting the support level at 1.1089. | ||
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GBPUSD | H4 | |
| Resistance | 1.5638 | 1.5669 | 1.5702 |
| Support | 1.5574 | 1.5541 | 1.5510 |
| Primary Scenario | The pair is revolving the daily pivot (1.5605). Any decisive upward movement will trigger the market to retest and penetrate the resistance level at 1.5638. Further increase of GBPUSD will lead the market towards the forthcoming resistance at 1.5669. | ||
| Alternative Scenario | Should the pair achieve to violate the daily pivot, the next support is seen at 1.5574. | ||
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USDCHF | H4 |  |
| Resistance | 0.9793 | 0.9825 | 0.9857 |
| Support | 0.9729 | 0.9697 | 0.9666 |
| Primary Scenario | USDCHF is oscillating around the daily pivot at 0.9761. Any forceful movement to the south will put pressure to the rate to retest the support level at 0.9729 and further down to 0.9697. | ||
| Alternative Scenario | A higher thrust of the market will lift the exchange rate above the daily pivot, with immediate target the resistance at 0.9793. | ||
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USDJPY | H4 | |
| Resistance | 124.50 | 124.88 | 125.27 |
| Support | 124.33 | 124.19 | 123.78 |
| Primary Scenario | The USDJPY pair is trading within the cloud. An upward momentum will lead the rate to surpass the upper level of the Kumo at 124.50. If that happens, the next resistance is estimated at 124.88 and a new bullish outlook will be in effect. | ||
| Alternative Scenario | A fruitless attempt to penetrate the upper level of the cloud, will push the market lower below the support at 124.33 and further down to 124.19. | ||
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AUDUSD | H4 | |
| Resistance | 0.7402 | 0.7448 | 0.7487 |
| Support | 0.7316 | 0.7276 | 0.7230 |
| Primary Scenario | AUDUSD is pivoting around the daily pivot at 0.7362. Any purposeful movement to the north will generate strength for the pair to target the resistance levels at 0.7402 and 0.7448. | ||
| Alternative Scenario. | If the pair manages to breach the daily pivot point, it will find support at 0.7316. | ||
The post GBPUSD is revolving the daily pivot at 1.5605. appeared first on Forex Circles.
