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EURUSD is trading slightly above the daily pivot.

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EURUSD Technical AnalysisEURUSDH4Up Trend
Primary ScenarioEURUSD is trading slightly above the daily pivot at 1.1361. A bounce up from current levels will fuel the pair to reach the resistance level at 1.1387 and further up at 1.1414.
Alternative ScenarioShould the pair manage to breach the daily pivot, the next support is seen at 1.1334.



GBPUSD Technical AnalysisGBPUSDH4Up Trend
Primary ScenarioThe pair is heading towards the resistance level at 1.5561, a multi-month high. If GBPUSD manages to withstand the sellers’ pressure, it will surpass this level, with immediate target the next resistance at 1.5595.
Alternative ScenarioA comeback of the market will push the pair to find support at the daily pivot point (1.5503).



USDCHF Technical AnalysisUSDCHFH4Up Trend
Primary ScenarioUSDCHF is oscillating around the daily pivot at 0.9485. A decisive movement to the north will trigger the market to penetrate the hurdle at 0.9506. The next resistance is seen at 0.9530.
Alternative ScenarioA plunge of the exchange rate below the daily pivot will open the way down to 0.9460.



USDJPY Technical AnalysisUSDJPYH4Down Trend
Primary ScenarioUSDJPY is negotiating within the cloud. Any forceful movement to the south will most likely lead the market to violate the support level at 118.85. If that happens, the currency pair will exit the Kumo and the next support is estimated at 118.61 and even lower at 118.29.
Alternative ScenarioAlternatively, if the pair achieves to exceed the barrier at 119.05 it will target the upper level of the could at 119.34.



AUDUSD Technical AnalysiAUDUSDH4Down Trend
Primary ScenarioThe pair edged up at 0.7900, before closing below the daily pivot at 0.7869. Further drop of AUDUSD will lead the market to breach the support at 0.7838 and then lower at 0.7791.
Alternative ScenarioA higher thrust of the exchange rate will lift the market above the daily pivot and further up at 0.7916.


The post EURUSD is trading slightly above the daily pivot. appeared first on Forex Circles.

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