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Daily Forex Analysis – February 25, 2011

USDCHF Analysis.
USDCHF stays below a falling trend line on 4-hour chart and remains in downtrend from 0.9774. As long as the trend line resistance holds, downtrend could be expected to continue and deeper decline towards 0.9100-0.9150 area could be seen.

20110225_usdchf_1

EURUSD Analysis.
EURUSD is facing 1.3861 resistance, a break above this level will target 1.4000 zone. Initial support is at 1.3700, only break below this level will indicate that sideways consolidation is underway, then range trading between 1.3428 and 1.3861 could be seen.

20110225_eurusd_1

GBPUSD Analysis.
Being contained by 1.6277 resistance, GBPUSD pulled back from 1.6272, suggesting lengthier consolidation of uptrend 1.5344 is underway. Range trading between 1.5962 and  1.6272 would likely be seen in next several days.

20110225_gbpusd_1

USDJPY Analysis.
USDJPY’s downward movement extended to as low as 81.62. Deeper decline is still possible later today and next target would be at 81.25. Resistance is at 82.20, as long as this level holds, downtrend will continue.

20110225_usdjpy_1

AUDUSD Analysis.
AUDUSD is forming a sideways consolidation in a range between 0.9943 and 1.0199. Moving sideways without trend in the range would likely be seen in a couple of days. Resistance is at 1.0157, only break above this level could trigger another rise to 1.0400.

20110225_audusd_1

USDCAD Analysis.
USDCAD is facing 0.9815 previous low support, a breakdown below this level will target 0.9700 area. Resistance is at 0.9850, as long as this level holds, downtrend from 0.9958 could be expected to continue.

20110225_usdcad_1

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