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Daily Forex Analysis – May 25, 2011

USDCHF Analysis.
USDCHF stays in a trading range between 0.8747 and 0.8945. Another rise to test 0.8945 resistance would likely be seen later today, a break above this level will indicate that the uptrend from 0.8553 has resumed, then next target would be at 0.9100 zone. Support is at 0.8747, only break below this level will indicate that lengthier consolidation of uptrend is underway, then pullback to 0.8650 could be seen.

20110525_usdchf_1

AUDUSD Analysis.
AUDUSD remains in downtrend from 1.1011. Another fall is still possible later today, and next target would be at 1.0300 area. Resistance is at the trend line from 1.1011 to 1.0888, as long as the trend line resistance holds, downtrend will continue.

20110525_audusd_1

GBPUSD Analysis.
GBPUSD stays below a downtrend line from 1.6516 to 1.6302, and remains in downtrend from 1.6745. As long as the trend line resistance holds, downtrend could be expected to continue, and another fall towards 1.6000 is possible after consolidation.

20110525_gbpusd_1

EURUSD Analysis.
EURUSD is in downtrend from 1.4345. The bounce from 1.3969 is treated as consolidation of downtrend. Another fall is still possible later today, and next target would be at 1.3700-1.3850 area. Key resistance is at 1.4345, only break above this level could indicate that the downtrend from 1.4939 is complete.

20110525_eurusd_1

USDJPY Analysis.
USDJPY remains in uptrend from 79.58. As long as the trend line support holds, uptrend could be expected to continue, and next target would be at 83.00 area. Only a clear break below the trend line support could indicate that the rise from 79.58 has completed, then the following downward move could bring price back to 78.00 zone.

20110525_usdjpy_1

USDCAD Analysis.
USDCAD remains in uptrend from 0.9444. Further rise is still possible in a couple of days, and next target would be at 0.9900 area. Support is at the trend line from 0.9513 to 0.9639, only a clear break below the trend line could indicate that the rise from 0.9444 is complete.

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