GBPUSD Analysis.
GBPUSD is facing 1.6259 resistance, a break above this level will indicate that the uptrend from 1.4813 (Jul 9 low) has resumed, then the following upward movement could bring price to 1.6500 zone. Support is at 1.6080, only break below this level will suggest that lengthier consolidation of the uptrend is underway, then sideways movement in a rang between 1.5894 and 1.6259 could be seen.
EURUSD Analysis.
EURUSD’s upward movement from 1.2756 (Jul 9 low) extends to as high as 1.3703. Further rise could be expected, and next target would be at 1.3800 area. Support is at 1.3580, as long as this level holds, the uptrend will continue.
AUDUSD Analysis.
AUDUSD’s upward movement from 0.9280 extends to as high as 0.9677. Initial support is at 0.9590, as long as this level holds, the uptrend will continue. Key support is located at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.
USDCHF Analysis.
USDCHF is facing 0.8967 support, a breakdown below this level will indicate that the downtrend from 0.9751 (Jul 9 high) has resumed, then the following downward movement could bring price to 0.8700 area. Resistance is at 0.9075, only break above this level will suggest that lengthier consolidation of the downtrend is underway, then range trading between 0.8967 and 0.9177 could be seen.
USDCAD Analysis.
USDCAD is now in downtrend from 1.0419. Further decline could be expected after a minor consolidation, and next target would be at 1.0200 area. Resistance is at 1.0345, as long as this level holds, the downtrend will continue.
USDJPY Analysis.
USDJPY remains in uptrend from 96.57, the fall from 99.00 is treated as correction of the uptrend. Deeper decline would likely be seen, and the target would be at 97.30 area. Key support is at 96.57, as long as this level holds, the uptrend could be expected to resume, and one more rise to 100.00 are is still possible.
