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Daily Forex Analysis – November 25, 2013

USDJPY Analysis.
USDJPY’s upward movement from 96.94 extends to as high as 101.80. Support level is now at 100.95, as long as this level holds, the uptrend could be expected to continue, and next target would be at 102.50 – 103.00 area. On the downside, a breakdown below 100.95 support will indicate that consolidation of the uptrend from 96.94 is underway, then the pair will find support around 100.50.

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USDCAD Analysis.
USDCAD’s upward movement extends to as high as 1.0568. Further rise could be expected after a minor consolidation, and next target would be at 1.0600 area. Support is now at 1.0500, as long as this level holds, the uptrend from 1.0414 will continue.

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AUDUSD Analysis.
AUDUSD’s downward movement from 0.9446 extends to as low as 0.9143. Resistance is at 0.9225, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.9050 area.

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GBPUSD Analysis.
GBPUSD is facing 1.6259 resistance, a break above this level will signal resumption of the longer term uptrend from 1.4813 (Jul 9 low), then the target would be at 1.7000 area. Support is at 1.6055, a breakdown below this level will indicate that the bounce from 1.5854 has completed, then deeper decline to test 1.5854 key support could be seen.

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EURUSD Analysis.
EURUSD is facing 1.3578 resistance, a break above this level will signal resumption of the uptrend from 1.3296, then next target would be at 1.3700 area. On the downside, as long as 1.3578 resistance holds, the rise from 1.3399 would possibly be correction of the downtrend from 1.3578, one more fall towards 1.3200 is still possible.

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USDCHF Analysis.
USDCHF breaks below 0.9079 support, suggesting that the downtrend from 0.9249 has resumed. Further decline could be expected, and next target would be at 0.8950 area. Resistance is at 0.9115, only break above this level will indicate that lengthier consolidation of the downtrend from 0.9249 is underway, then further rally to 91.70 area could be seen.

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