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Daily Forex Analysis – February 25, 2010

USDCAD Analysis.
USDCAD might be forming a short term cycle top at 1.0593 level on 4-hour chart. Pullback to 1.0450 is expected later today. Resistance is now at 1.0593, above this level will suggesting that the fall from 1.0779 has completed at 1.0369 already, then further rally is expected to test 1.0779 previous high resistance. However, as long as 1.0593 resistance holds, one more fall towards 1.0300 would more likely be seen.

20100225_usdcad_1

EURUSD Analysis.
EURUSD is forming a short term cycle top at 1.3691 level on 4-hour chart. As long as 1.3691 resistance holds, we’d expect another fall towards 1.3300. Only rise above 1.3691 could indicate lengthier consolidation of downtrend from 1.4579 is underway, then one more test of 1.3838 resistance could be seen.

20100225_eurusd_1

USDCHF Analysis.
USDCHF is forming a short term cycle bottom at 1.0715 level on 4-hour chart. Another rise  towards 1.1000 would more likely be seen. Support is at 1.0715, only fall below this level could take price back to re-test 1.0608 key support.

20100225_usdchf_1

GBPUSD Analysis.
GBPUSD is testing 1.5350 support. A breakdown below this level will indicate that the downtrend from 1.6456 has resumed, then deeper decline could be seen to 1.5200 area. Resistance levels are at 1.5475 and 1.5575.

20100225_gbpusd_1

USDJPY Analysis.
USDJPY is now in downtrend from 92.14. Deeper decline is expected to test 88.57 previous low support after minor consolidation. Resistance levels are at 90.35 and 90.75, as long as these levels holds, downtrend from 92.14 could be expected to continue.

20100225_usdjpy_1

AUDUSD Analysis.
AUDUSD breaks below 0.8678 key support, suggesting that a short term cycle top has been formed at 0.9070 level on 4-hour chart and the uptrend from 0.8577 has completed. Pullback to 0.8750 area would more likely be seen in next several days.

20100225_audusd_1

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