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Daily Forex Analysis – March 25, 2013

EURUSD Analysis.
EURUSD is facing the resistance of the downward trend line on 4-hour chart. A clear break above the trend line resistance will indicate that the downtrend from 1.3711 (Feb 1 high) had completed at 1.2843 already, then the following upward movement could bring price to 1.4000 zone. On the downside, as long as the trend line resistance holds, the rise from 1.2843 would possibly be consolidation of the downtrend, one more fall to 1.2700 area to complete the downward movement is still possible.

20130325_eurusd_1

USDJPY Analysis.
USDJPY breaks below 94.31 support, suggesting that lengthier consolidation of the uptrend from 77.14 (Sep 13, 2012 low) is underway. Deeper decline would likely be seen, and the target would be at 92.00 – 93.00 area. Resistance is at 95.55, only break above this level could trigger another rise towards 100.00.

20130325_usdjpy_1

USDCAD Analysis.
USDCAD is in consolidation of the uptrend from 0.9815 (Jan 11 low). Range trading between 1.0180 and 1.0341 would likely be seen over the next several days. Key support is at 1.0180, as long as this level holds, the uptrend could be expected to resume after consolidation, and one more rise to 1.0500 are is still possible. On the downside, a breakdown below 1.0180 will indicate that the uptrend from 0.9815 had completed at 1.0341 already, then the following downward move could bring price to 0.9500 zone.

20130325_usdcad_1

USDCHF Analysis.
USDCHF’s downward movement from 0.9567 extends to as low as 0.9352. Further decline could be expected and next target would be at 0.9300 area.  Resistance is at 0.9450, only break above this level could signal completion of the downtrend.

20130325_usdchf_1

AUDUSD Analysis.
AUDUSD remains in uptrend from 1.0115. Further rise could be expected after a minor consolidation, and next target would be at 0.9500 – 0.9550 area. Support is at 1.0370, only break below this level could signal completion of the uptrend.

20130325_audusd_1

GBPUSD Analysis.
GBPUSD’s upward movement from 1.4831 extends to as high as 1.5260. Support is at 1.5100, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.5350 area, only break below 1.5100 support could signal completion of the uptrend.

20130325_gbpusd_1

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