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USDJPY jumped higher in the previous session.
| EURUSD | H4 | ||
| Resistance | 1.0968 | 1.1096 | 1.1161 |
| Support | 1.0774 | 1.0710 | 1.0581 |
| Primary Scenario | EURUSD tumbled in the previous session and approached new lows below the daily pivot (1.0903). A persistent trading below this level will lead the market to hit the support level at 1.0774 and then lower at 1.0710. Further drop of the market will most likely push prices to find support at 1.0581. RSI oscillator is trading within an oversold area. | ||
| Alternative Scenario | A higher thrust of the pair will lift the exchange rate above the daily pivot and even higher at 1.0968. | ||
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GBPUSD | H4 | |
| Resistance | 1.5182 | 1.5330 | 1.5405 |
| Support | 1.4959 | 1.4883 | 1.4735 |
| Primary Scenario | The pair is following a downtrend. If GBPUSD manages to extend its momentum, it will target the support levels at 1.4959 and 1.4883. | ||
| Alternative Scenario | An upward wave would lead the currency pair above the daily pivot at 1.5182, with immediate target the resistance at 1.5182. RSI oscillator supports this outlook. | ||
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USDCHF | H4 |  |
| Resistance | 0.9898 | 0.9952 | 1.0041 |
| Support | 0.9754 | 0.9666 | 0.9611 |
| Primary Scenario | USDCHF surged higher above the daily pivot at 0.9809. If the bulls manage to take control of the bears pressure, it will move higher towards the resistance level at 0.9898 and further up at 0.9952. | ||
| Alternative Scenario | A reversal back below the daily pivot, will bring the market into a correction course down to 0.9754. RSI oscillator is at 80, within an overbought territory. | ||
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USDJPY | H4 | |
| Resistance | 121.30 | 121.82 | 122.40 |
| Support | 120.59 | 120.31 | 119.67 |
| Primary Scenario | USDJPY jumped higher in the previous session. A sustained trading will trigger the market to penetrate the hurdle at 121.30 and then higher at 121.82. | ||
| Alternative Scenario | A comeback of the pair below the support level at 120.59 will open the way down to 120.31. | ||
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AUDUSD | H4 | |
| Resistance | 0.7802 | 0.7893 | 0.7941 |
| Support | 0.7663 | 0.7615 | 0.7524 |
| Primary Scenario | The pair finally managed to breach the daily pivot at 0.7754. Should AUDUSD achieve to violate the barrier at 0.7663, the next support is seen at 0.7615. | ||
| Alternative Scenario | A surge of the market will lead the pair to hit the daily pivot at 0.7754. | ||
The post USDJPY jumped higher in the previous session. appeared first on Forex Circles.
