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Daily Forex Analysis – September 25, 2008

USDCAD Analysis.
USDCAD consolidated in a range between 1.0304 and 1.0397. Deeper decline is still possible to 1.0200 zone after consolidation, and a break of 1.0304 level will confirm the resumption of down trend. Initial resistance is at 1.0425 and followed by 1.0515, only rise above 1.0515 level will signal further rally towards 1.0700 zone.

20080925_usdcad_1

GBPUSD Analysis.
GBPUSD consolidated in a narrow range between 1.8458 and 1.8641. Further rise towards 1.8900 is still possible after consolidation, and a break of 1.8641 will signal resumption of up trend. Initial support is at the up trend line from 1.7445 to 1.7916, as long as the trend line support holds, we’d expect up trend to continue.

20080925_gbpusd_1

USDJPY Analysis.
USDJPY is forming a sideways consolidation in a range between 103.54 and 110.66 (Aug 15 high). Moving without trend in the range is expected in the next few days, and pullback towards 104.50 zone will more likely be seen later today.

20080925_usdjpy_1

USDCHF Analysis.
USDCHF is in down trend. The rebound from 1.0693 is treated as consolidation to down trend. Deeper decline could be seen to 1.0500 zone after consolidation. Initial resistance is now at 1.0935 followed by 1.1100.

20080925_usdchf_1

AUDUSD Analysis.
AUDUSD traded in range between 0.8279 and 0.8519. Further rally is still possible to 0.8800 zone after consolidation, and a break of 0.8519 will signal resumption of up trend. Initial support is now at 0.8279 and followed by 1.8160.

20080925_audusd_1

EURUSD Analysis.
Being contained by the resistance at 1.4908 (Aug 21 high), EURUSD pulled back from 1.4867 and formed a sideways consolidation in a range between 1.4603 and 1.4867. Initial support is at the up trend line from 1.3881 to 1.4150, as long as the trend line support holds, we’d expected up trend to resume, and further rise towards 1.5200 zone could be seen after consolidation.

20080925_eurusd_1

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