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Daily Forex Analysis – July 25, 2011

AUDUSD Analysis.
AUDUSD stays above a uptrend line on 4-hour chart, and remains in uptrend. As long as the trend line support holds, uptrend could be expected to continue, and next target would be at 1.0950 area. However, a clear break below the trend line will indicate that lengthier consolidation of uptrend is underway, then pullback to 1.0700 could be seen.

20110725_audusd_1

USDCAD Analysis.
USDCAD broke above the downtrend line on 4-hour chart, suggesting that consolidation of downtrend is underway. Range trading between 0.9423 and 0.9560 would likely be seen in a couple of days. Support is at 0.9423, a breakdown below this level will signal resumption of downtrend, then next target would be at 0.9300 area.

20110725_usdcad_1

USDCHF Analysis.
USDCHF is forming a sideways consolidation in a range between 0.8082 and 0.8276. The sideways move could be expected to continue in a couple of days. As long as 0.8082 support holds, one more rise to 0.8400-0.8450 area is possible after the sideways move. However, a breakdown below 0.8082 could indicate that the long term downtrend has resumed, then next target would be at 0.7800 zone.

20110725_usdchf_1

USDJPY Analysis.
USDJPY’s fall from 81.47 extended to as low as 78.12. Resistance is now at 78.75, as long as this level holds, downtrend could be expected to continue, and next target would be at 77.50 area. However, a break above 78.75 will suggest that lengthier consolidation of downtrend is underway, then further rally could be seen to 79.00 zone.

20110725_usdjpy_1

EURUSD Analysis.
EURUSD remains in uptrend from 1.4014. Further rise is still possible in a couple of days, and next target would be at 1.4550. Support is now at 1.4320, only break below this level could indicate that the rise from 1.4014 is complete.

20110725_eurusd_1

GBPUSD Analysis.
GBPUSD’s upward move from 1.5781 extended to as high as 1.6343. Further rise is expected in a couple of days, and next target would be at 1.6450 area. Support is at 1.6260, as long as this level holds, uptrend will continue.

20110725_gbpusd_1

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