USDJPY: The strength of the market faded.

EURUSD Technical Analysis
Resistance 1.2223 1.2274 1.2303
Support 1.2142 1.2112 1.2061
Primary Scenario EURUSD is trading narrowly below the daily pivot at 1.2193. Further decrease of the rate, will expose the pair to deeper levels down to the support at 1.2142 and even lower at 1.2112.
Alternative Scenario An upward wave could lead the market above the daily pivot, to reach the resistance level at 1.2223. RSI oscillator supports this scenario.


GBPUSD Technical Analysis GBPUSD H4
Resistance 1.5589 1.5659 1.5711
Support 1.5467 1.5415 1.5345
Primary Scenario The pair has achieved to break below the daily pivot (1.5537). If GBPUSD manages to extend its downtrend, it will find support at 1.5467 and further down to 1.5415.
Alternative Scenario A successful attempt to penetrate the daily pivot, it will lift the market to target the resistance level at 1.5589.


USDCHF Technical Analysis USDCHF H4 Up Trend
Resistance 0.9900 0.9923 0.9961
Support 0.9839 0.9802 0.9779
Primary Scenario USDCHF has proceeded to a fresh high yesterday. If the pair manages to withhold the sellers’ pressure, it will climb towards the hurdle at 0.9900. The next resistance is seen at 0.9923.
Alternative Scenario A plunge of the market below the daily pivot point at 0.9862 will open the way down to 0.9839. RSI oscillator is amounted at 71, trading within an overbought zone.


USDJPY Technical Analysis USDJPY H4 Up Trend
Resistance 120.81 121.27 121.83
Support 120.26 119.86 119.54
Primary Scenario The strength of the market faded. A decisive movement upwards, will trigger USDJPY to retest the hurdle at 120.81. Further increase of the currency pair will target the forthcoming resistance level at 121.27.
Alternative Scenario Should the pair manage to violate the support level at 120.26, it will push prices lower to 119.86.


AUDUSD Technical Analysi AUDUSD H4
Resistance 0.8135 0.8167 0.8191
Support 0.8078 0.8054 0.8022
Primary Scenario AUDUSD has been gyrating the daily pivot at 0.8110. If the bears take control and overweight the bulls’ pressure, they will target the support level at 0.8078 and then lower at 0.8054.
Alternative Scenario A higher thrust of the market will fuel the exchange rate above the daily pivot, with immediate target the hurdle at 0.8135.


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