GBPUSD surged into fresh highs.

EURUSD Technical Analysis
Resistance 1.1197 1.1239 1.1273
Support 1.1121 1.1088 1.1045
Primary Scenario EURUSD has tested the critical support at 1.1121, before surpassing the daily pivot at 1.1163. If the pair manages to extend its momentum, it will climb towards the resistance level at 1.1197 and even higher at 1.1239.
Alternative Scenario A plunge of the market below the daily pivot point will lead the pair to retest the support level at 1.1121.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5667 1.5750 1.5887
Support 1.5448 1.5310 1.5228
Primary Scenario The pair surged into fresh highs. A sustained trading above the daily pivot point (1.5530) will most likely fuel GBPUSD further towards the forthcoming resistance level at 1.5667 and then higher at 1.5750.
Alternative Scenario A reversal back below the daily pivot will bring the market into a correction course, down to 1.5448. RSI oscillator supports this outlook.


USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9363 0.9387 0.9420
Support 0.9305 0.9271 0.9247
Primary Scenario USDCHF edged up at 0.9363, before closing below the daily pivot at 0.9329. Further drop of the exchange rate will push prices lower, targeting the support levels at 0.9305 and 0.9271.
Alternative Scenario On the other hand, a higher thrust of the market will lift the pair above the daily pivot, with immediate target the resistance at 0.9363.


USDJPY Technical Analysis USDJPY H4
Resistance 120.22 120.50 120.83
Support 120.05 119.80 119.48
Primary Scenario USDJPY is now testing the hurdle in line at 120.22. A successful penetration of this level will trigger the market to hit the next resistance at 120.50. The next resistance level is estimated at 120.83.
Alternative Scenario Alternatively, a setback of the currency pair will lead the market to breach the support level at 120.05, opening the way down to 119.80 (upper level of the cloud).


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.7922 0.7955 0.7978
Support 0.7865 0.7842 0.7809
Primary Scenario A strong bullish momentum led AUDUSD to clear the daily pivot point and the barrier at 0.7922. If the pair manages to withhold the sellers’ pressure, it will target the next resistances at 0.7955 and further up to 0.7978.
Alternative Scenario A tumble of the exchange rate will lead the market below the support at 0.7922 to find support at 0.7899 (daily pivot).


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Source:: GBPUSD surged into fresh highs.

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