04 Jul

AUDUSD is trading near the previous top.

July 4, 2016

	EURUSD	H4
Resistance	1.1179	1.1222	1.1277
Support	1.1082	1.1028	1.0984
Primary Scenario	EURUSD is trading slightly above the daily pivot point (1.1125). A bounce up from current levels will most likely lead the market to retest the hurdle at 1.1179 and even higher at 1.1222.
Alternative Scenario	A plunge of the market below the daily pivot will pave the path down to 1.1082.

	GBPUSD	H4
Resistance	1.3332	1.3393	1.3437
Support	1.3227	1.3183	1.3122
Primary Scenario	The pair is negotiating on the daily pivot at 1.3288. A decisive movement to the south will trigger the market to find support at 1.3227 and further down to 1.3183.
Alternative Scenario	Alternatively, a successful attempt to penetrate the daily pivot will fuel the pair towards 1.3332.

	USDCHF	H4
Resistance	0.9766	0.9808	0.9837
Support	0.9696	0.9667	0.9625
Primary Scenario	USDCHF is trading narrowly below the daily pivot at 0.9738. Further drop of the market will open the way down to 0.9696 and then lower at 0.9667.
Alternative Scenario	A surge of the market above the daily pivot will lift the exchange rate to retest the hurdle at 0.9766.

	USDJPY	H4
Resistance	102.91	103.36	103.97
Support	102.42	102.15	101.75
Primary Scenario	The USDJPY pair is trading within the Kumo. Should the pair manage to exceed the barrier at 102.91, it will target the forthcoming resistance level at 103.36.
Alternative Scenario	On the other hand, a reversal back below the key support at 102.42 will push the pair to find support at 102.15.

	AUDUSD	H4
Resistance	0.7517	0.7542	0.7583
Support	0.7451	0.7411	0.7386
Primary Scenario	AUDUSD is trading near the previous top. An upward wave would accelerate the pair to surpass the hurdle in line at 0.7517, targeting the next resistance level at 0.7542.
Alternative Scenario	A setback of the currency pair below the daily pivot (0.7477) will lead the rate to retest the support at 0.7451.

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

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InvestMacro

AUDUSD is trading near the previous top.