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USDJPY: A new bearish outlook is now in effect.
| EURUSD | H4 | ||
| Resistance | 1.1385 | 1.1448 | 1.1511 |
| Support | 1.1259 | 1.1196 | 1.1133 |
| Primary Scenario | EURUSD edged up at 1.1385, before closing below the daily pivot (1.1322). A sustained trading below this level will most likely push prices lower towards the support level at 1.1259 and further down to 1.1196. | ||
| Alternative Scenario | A surge of the pair above the daily pivot will lift the exchange rate to retest the hurdle in line at 1.1385. | ||
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GBPUSD | H4 |  |
| Resistance | 1.5598 | 1.5667 | 1.5782 |
| Support | 1.5413 | 1.5298 | 1.5228 |
| Primary Scenario | The pair surged into fresh highs in the previous session. Should the pair achieve to maintain its bullish momentum, the next resistance is seen at 1.5598 and even higher at 1.5667. | ||
| Alternative Scenario | On the other hand, a plunge of GBPUSD below the daily pivot point (1.5483) will open the way down to 1.5413. | ||
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USDCHF | H4 | |
| Resistance | 0.9346 | 0.9380 | 0.9437 |
| Support | 0.9254 | 0.9198 | 0.9163 |
| Primary Scenario | USDCHF is now poised to test the barrier at 0.9346. A successful attempt to penetrate this level will trigger the market to target the resistance levels at 0.9380 and 0.9437. | ||
| Alternative Scenario | Alternatively, a comeback of the pair will push the market to find support at the daily pivot at 0.9289 and then lower at 0.9254. | ||
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USDJPY | H4 | |
| Resistance | 123.24 | 123.76 | 124.30 |
| Support | 122.44 | 121.80 | 121.08 |
| Primary Scenario | A new bearish outlook is now in effect. A decisive movement to the south will lead the pair to retest and violate the support level at 122.44. The next support is estimated at 121.80. | ||
| Alternative Scenario | A higher thrust of the market will fuel USDJPY to enter within the cloud, targeting the resistance at 123.24. | ||
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AUDUSD | H4 | |
| Resistance | 0.7815 | 0.7874 | 0.7764 |
| Support | 0.7666 | 0.7576 | 0.7517 |
| Primary Scenario | AUDUSD has experienced strong resistance at the current levels. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance level at 0.7815 and then higher at 0.7874. | ||
| Alternative Scenario | A reversal back below the daily pivot at 0.7725 will lead the way down to 0.7666. | ||
The post USDJPY: A new bearish outlook is now in effect. appeared first on Forex Circles.
