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USDJPY: The price action remains below the cloud.
| EURUSD | H4 | ||
| Resistance | 1.1321 | 1.1360 | 1.1426 |
| Support | 1.1215 | 1.1149 | 1.1110 |
| Primary Scenario | EURUSD has experienced strong resistance above the daily pivot zone (1.1254). If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 1.1321 and 1.1360. | ||
| Alternative Scenario | A reversal back below the daily pivot point exposes next support at 1.1215. | ||
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GBPUSD | H4 | |
| Resistance | 1.5646 | 1.5692 | 1.5772 |
| Support | 1.5519 | 1.5440 | 1.5393 |
| Primary Scenario | After successfully breaching the daily pivot at 1.5566, the pair gained momentum and surged into fresh highs. If GBPUSD achieves to extend its momentum, it will target the forthcoming resistance level at 1.5646 and even higher at 1.5692. | ||
| Alternative Scenario | A comeback of the exchange rate will push prices to find support at the daily pivot. | ||
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USDCHF | H4 |  |
| Resistance | 0.9359 | 0.9425 | 0.9468 |
| Support | 0.9250 | 0.9207 | 0.9140 |
| Primary Scenario | USDCHF is still moving sideways. A decisive movement to the south will lead the currency pair to violate the support at 0.9250, with immediate target the support level at 0.9207. | ||
| Alternative Scenario | On the other hand, a higher thrust of the pair will lift the exchange rate to exceed the daily pivot, targeting the resistance level at 0.9359. | ||
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USDJPY | H4 | |
| Resistance | 123.79 | 124.30 | 124.95 |
| Support | 123.30 | 122.85 | 122.44 |
| Primary Scenario | The price action remains below the cloud and this is an indication that bearish sentiment still persists. A plunge of USDJPY below the key support at 123.30 will open the way down to 122.85. | ||
| Alternative Scenario | Alternatively, an upward wave would lead the market to penetrate the hurdle at 123.79. The next resistance is estimated at 124.30. | ||
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AUDUSD | H4 | |
| Resistance | 0.7792 | 0.7820 | 0.7865 |
| Support | 0.7720 | 0.7675 | 0.7647 |
| Primary Scenario | AUDUSD has been gyrating the daily pivot point (0.7748) in the previous sessions. Should the pair manage to exceed the barrier at 0.7792, it will fuel the rate towards the next resistance at 0.7820. | ||
| Alternative Scenario | A break back below the daily pivot will push the market to find support at 0.7720. | ||
The post USDJPY: The price action remains below the cloud. appeared first on Forex Circles.
