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EURUSD tumbled yesterday and hit fresh lows.

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EURUSD Technical AnalysisEURUSDH4Down Trend
Primary ScenarioEURUSD tumbled yesterday and hit fresh lows. If the pair manages to extend its downtrend it will find support at 1.1237. Further drop of the market will lead the exchange rate towards the forthcoming support at 1.1110.
Alternative ScenarioA higher thrust of the pair will lift the rate up to the daily pivot point at 1.1443. RSI oscillator supports this scenario.



GBPUSD Technical AnalysisGBPUSDH4Down Trend
Primary ScenarioThe pair is poised to reach the support level at 1.4916. A break back below this level, will open the way down to the next target at 1.1824.
Alternative ScenarioAn upward wave, would act as a catalyst for GBPUSD to hit the daily pivot at 1.5064 and even higher at 1.5156.



USDCHF Technical AnalysisUSDCHFH4Up Trend
Primary ScenarioThe pair is pivoting between the resistance level at 0.8793 and the support level at 0.8569. A decisive movement to the north will generate strength for USDCHF to penetrate the barrier at 0.8793, with immediate target the resistance at 0.8883.
Alternative ScenarioA plunge of the pair below the daily pivot will push prices to find support at 0.8569.



USDJPY Technical AnalysisUSDJPYH4Up Trend
Primary ScenarioYesterday’s surge pushed the market to exceed the upper level of the Kumo and the bullish scenario is now in force. If the pair manages to withhold the sellers’ pressure, it will gain momentum to target the next resistances at 118.85 and 119.32.
Alternative ScenarioA comeback of USDJPY below the support at 118.03, will push the currency pair into the cloud and the support level at 117.16.



AUDUSD Technical AnalysiAUDUSDH4Down Trend
Primary ScenarioAUDUSD violated the daily pivot (0.8051) and found support at 0.7968. A breach of this level will push the market lower towards the support level at 0.7913 and then lower at 0.7830. RSI oscillator is trading within an oversold area.
Alternative ScenarioOn the other hand, a surge of the market will bring the pair into a correction course towards the daily pivot at 0.8051 and further up at 0.8107.



The post EURUSD tumbled yesterday and hit fresh lows. appeared first on Forex Circles.

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