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USDJPY has experienced strong resistance during this week.
| EURUSD | H4 | ||
| Resistance | 1.1484 | 1.1657 | 1.1754 |
| Support | 1.1215 | 1.1118 | 1.0945 |
| Primary Scenario | EURUSD is is trading below the daily pivot at 1.1387. Further drop of the pair will lead the exchange rate lower down to 1.1215 and 1.1118. | ||
| Alternative Scenario | A surge of the market above the daily pivot will fuel the pair further towards the resistance level at 1.1484. | ||
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GBPUSD | H4 | |
| Resistance | 1.5634 | 1.5810 | 1.5901 |
| Support | 1.5367 | 1.5276 | 1.5100 |
| Primary Scenario | The pair cleared the key support level at 1.5634 and the daily pivot at 1.5543 in the previous session. If GBPUSD manages to extend its momentum, the next support level is seen at 1.5367 and then lower at 1.5276. | ||
| Alternative Scenario | On the other hand, a reversal back above the daily pivot will push the market upwards towards the resistance level at 0.5634. | ||
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USDCHF | H4 |  |
| Resistance | 0.9603 | 0.9660 | 0.9770 |
| Support | 0.9436 | 0.9326 | 0.9268 |
| Primary Scenario | USDCHF has penetrated the daily pivot point (0.9493). A persistent trading above this level will most likely trigger the market to climb towards the resistance levels at 0.9603 and 0.9660. | ||
| Alternative Scenario | A plunge of the market will push prices below the daily pivot, opening the way down to 0.9436. | ||
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USDJPY | H4 | |
| Resistance | 120.26 | 121.25 | 122.02 |
| Support | 119.41 | 118.25 | 116.16 |
| Primary Scenario | The pair has experienced strong resistance during this week. A fruitless attempt to move higher will push the pair to find support at 119.41 and further down to 118.25. | ||
| Alternative Scenario | A successful attempt to surpass the barrier at 120.26 will pave the way up towards the resistance level at 121.25. | ||
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AUDUSD | H4 | |
| Resistance | 0.7161 | 0.7201 | 0.7247 |
| Support | 0.7074 | 0.7028 | 0.6988 |
| Primary Scenario | AUDUSD is gyrating the daily pivot point at 0.7115. If the pair achieves to eliminate the support level at 0.7074, the next target is estimated at 0.7028. | ||
| Alternative Scenario. | Alternatively, an upward wave would lead the currency pair above the daily pivot, with immediate target the resistance at 0.7161. | ||
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Source:: USDJPY has experienced strong resistance during this week.
