Analysis and Opinion »
AUDUSD: Bullish momentum.
 |
EURUSD | H4 |  |
| Resistance | 1.0732 | 1.0782 | 1.0863 |
| Support | 1.0602 | 1.0521 | 1.0471 |
| Primary Scenario | EURUSD has tested the hurdle at 1.0732. A decisive thrust of this critical resistance will most likely fuel the pair further towards the next target in line at 1.0782 and even higher at 1.0863. | ||
| Alternative Scenario | A comeback of the currency pair will push the market below the daily pivot (1.0651) and then lower at 1.0602. | ||
 |
GBPUSD | H4 | |
| Resistance | 1.4895 | 1.4950 | 1.5047 |
| Support | 1.4742 | 1.4645 | 1.4590 |
| Primary Scenario | The pair managed to penetrate the daily pivot at 1.4797 yesterday. Should GBPUSD achieve to keep its momentum, it will exceed the resistance at 1.4895, targeting the forthcoming level at 1.4950. | ||
| Alternative Scenario | A reversal back below the daily pivot will pave the path towards the support level at 1.4742. | ||
 |
USDCHF | H4 |  |
| Resistance | 0.9729 | 0.9817 | 0.9864 |
| Support | 0.9594 | 0.9546 | 0.9458 |
| Primary Scenario | USDCHF tumbled and reached the support at 0.9594. Further drop of the market will push prices lower towards the support level at 0.9546. | ||
| Alternative Scenario | On the other hand, an upward wave would lead the pair to surpass the daily pivot point (0.9682) and further up at 0.9729. | ||
 |
USDJPY | H4 | |
| Resistance | 119.45 | 119.72 | 120.05 |
| Support | 119.06 | 118.78 | 118.32 |
| Primary Scenario | USDJPY is trading below the cloud. Any decisive movement to the south will push prices to slide down to the support level at 119.06 and 118.78. | ||
| Alternative Scenario | Alternatively, if the pair manages to penetrate the resistance at 119.45, it will target the lower level of the Kumo at 119.72. | ||
 |
AUDUSD | H4 | |
| Resistance | 0.7729 | 0.7778 | 0.7857 |
| Support | 0.7600 | 0.7521 | 0.7471 |
| Primary Scenario | A strong bullish movement led AUDUSD to clear the daily pivot point (0.7649) and the resistance level at 0.7729. If the steam of the pair remains intact, it will exceed the barrier at 0.7778, targeting the next resistance at 0.7857. | ||
| Alternative Scenario | A plunge of the exchange rate will push the pair to breach the support level at 0.7729, falling further down to 0.7649. | ||
The post AUDUSD: Bullish momentum. appeared first on Forex Circles.
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