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USDCHF violated the daily pivot point (0.9319) – a key level.
| EURUSD | H4 | ||
| Resistance | 1.1369 | 1.1449 | 1.1592 |
| Support | 1.1147 | 1.1004 | 1.0924 |
| Primary Scenario | EURUSD bounced up from the previous bottom at 1.1048 and is now heading to retest the hurdle at 1.1369. A successful surpass of this level will fuel the pair higher towards the resistance level at 1.1449 and further up to 1.1592. | ||
| Alternative Scenario | On the other hand, a plunge of the market below the daily pivot point will push the pair to find support at 1.1147. | ||
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GBPUSD | H4 | |
| Resistance | 1.5399 | 1.5452 | 1.5542 |
| Support | 1.5257 | 1.5167 | 1.5114 |
| Primary Scenario | The pair managed to exceed the daily pivot (1.5310) in the previous session. If GBPUSD achieves to withhold the sellers’ pressure, it will climb towards the resistance levels at 1.5399 and 1.5452. | ||
| Alternative Scenario | A comeback of the currency pair will lead the market below the daily pivot and even lower at 1.5257. | ||
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USDCHF | H4 |  |
| Resistance | 0.9382 | 0.9492 | 0.9555 |
| Support | 0.9209 | 0.9146 | 0.9036 |
| Primary Scenario | USDCHF violated the daily pivot point (0.9319) – a key level. Further slide of the exchange rate will open the way down to 0.9209 and then lower at 0.9146. | ||
| Alternative Scenario | An upward wave would lift the pair towards the daily pivot and further up to 0.9382. | ||
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USDJPY | H4 | |
| Resistance | 124.81 | 125.85 | 126.60 |
| Support | 124.33 | 123.75 | 123.30 |
| Primary Scenario | The pair is now poised to test the upper level of the cloud. Any decisive movement to the north will trigger the market to target the resistance level at 124.81. The next resistance is seen at 125.85. | ||
| Alternative cenario | Alternatively, a breach of USDJPY within the cloud will lead the market deeper towards the support at 123.75. | ||
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AUDUSD | H4 | |
| Resistance | 0.7741 | 0.7780 | 0.7850 |
| Support | 0.7632 | 0.7562 | 0.7523 |
| Primary Scenario | AUDUSD has recovered from the previous low and is now trading above the daily pivot at 0.7671. Any forceful attempt to penetrate the hurdle at 0.7741 will accelerate the market to reach the resistance level at 0.7780. | ||
| Alternative Scenario | A slump of the currency pair below the daily pivot will push the rate to find support at 0.7632. | ||
The post USDCHF violated the daily pivot point (0.9319) – a key level. appeared first on Forex Circles.
Source:: USDCHF violated the daily pivot point (0.9319) – a key level.
