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Daily Forex Analysis – November 25, 2011

AUDUSD Analysis.
AUDUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.0342. As long as the trend line resistance holds, downtrend could be expected to continue after a minor consolidation and next target would be at 0.9600 area. However, a clear break above the trend line could indicate that the fall from 1.0342 has competed, then the following upward movement could bring price to 1.0400 zone.

20111125_audusd_1

GBPUSD Analysis.
GBPUSD remains in downtrend from 1.6092 and the fall extends to as low as 1.5457. Further fall is still possible in a couple of days, and next target would be at 1.5350-1.5400 area. Resistance is located at the upper border of the price channel on 4-hour chart, only a clear break above the channel could indicate that the fall is complete.

20111125_gbpusd_1

USDCHF Analysis.
USDCHF is now facing 0.9234 resistance, a break above this level could signal resumption of uptrend from 0.8569, then further rise to test 0.9314 previous high resistance could be seen. Key support remains at 0.9085, only break below this level could indicate that the rise is complete.

20111125_usdchf_1

USDCAD Analysis.
USDCAD remains in uptrend from 0.9891. Further rise is still possible after consolidation, and next target would be at 1.0600 area. Initial support is now at 1.0390, as long as this level holds, uptrend will continue.

20111125_usdcad_1

EURUSD Analysis.
EURUSD’s downward movement extended to as low as 1.3314. Further fall is expected after a minor consolidation, and next target would be at 1.3250 area. Key resistance is at 1.3614, only break above this level could indicate that the fall is complete.

20111125_eurusd_1

USDJPY Analysis.
After breaking above the downward channel on 4-hour chart, the bounce from 76.56 is treated as correction of downtrend from 79.52. Further rally is still possible in a couple of days, and target would be at 78.00 area.

20111125_usdjpy_1

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