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USDJPY is currently trading near the previous top.
Posted On 03 Dec 2014
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| EURUSD | H4 | ||
| Resistance | 1.2446 | 1.2510 | 1.2545 |
| Support | 1.2347 | 1.2312 | 1.2248 |
| Primary Scenario | EURUSD is heading towards the support level at 1.2347. If the pair manages to break this level, it will fall further down to the next support at 1.2312 and even lower at 1.2248. | ||
| Alternative Scenario | Should the pair achieve to climb above the daily pivot (1.2411), it will hit the resistance level at 1.2446. | ||
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GBPUSD | H4 | |
| Resistance | 1.5708 | 1.5780 | 1.5819 |
| Support | 1.5597 | 1.5558 | 1.5486 |
| Primary Scenario | The GBPUSD pair manages to violate the daily pivot at 1.5669. A sustained trading below this level will push prices to retest the barrier at 1.5597. The next support is seen at 1.5558. | ||
| Alternative Scenario | A higher thrust of the market, might be a catalyst for the currency rate to penetrate the daily pivot and to lead the pair up to the resistance level at 1.5708. | ||
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USDCHF | H4 |  |
| Resistance | 0.9752 | 0.9785 | 0.9840 |
| Support | 0.9664 | 0.9608 | 0.9576 |
| Primary Scenario | USDCHF proceeds with fresh highs. If the pair manages to extend its uptrend, it will target the resistance levels at 0.9752 and then higher at 0.9785. | ||
| Alternative Scenario | A plunge of the pair below the daily pivot at 0.9696, will bring USDCHF into a correction phase, targeting the support at 0.9664. | ||
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USDJPY | H4 | |
| Resistance | 119.43 | 119.90 | 121.16 |
| Support | 118.80 | 118.35 | 117.86 |
| Primary Scenario | The pair is currently trading near the previous top at 119.43. A decisive upward movement, will trigger the market to exceed this barrier. The next resistance is estimated at 119.90. | ||
| Alternative Scenario | Alternatively, a comeback of the exchange rate, will push prices to find support at 118.80. | ||
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AUDUSD | H4 | |
| Resistance | 0.8512 | 0.8581 | 0.8622 |
| Support | 0.8403 | 0.8363 | 0.8294 |
| Primary Scenario | AUDUSD cleared the key resistance at 0.8403. Further drop of the market, will lead the rate lower towards the support at 0.8363 and further down to 0.8294. | ||
| Alternative Scenario | An upward wave, would push prices to surpass the hurdle at 0.8403 and target the daily pivot at 0.8472. | ||
The post USDJPY is currently trading near the previous top. appeared first on Forex Circles.
