AUDUSD Analysis.
AUDUSD failed to break below 0.8847 support, and rebounded from 0.8892, suggesting that lengthier sideways movement in a range between 0.8847 and 0.9317 is underway. Further rise to test 0.9317 resistance could be expected, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 1.0582 (Apr 11 high), one more fall towards 0.8500 is still possible after consolidation.
GBPUSD Analysis.
GBPUSD stays within a upward price channel on 4-hour chart, and remains in uptrend from 1.4813 (Jul 9 low), the price action from 1.5717 could be treated as consolidation of the uptrend. As long as the channel support holds, the uptrend could be expected to resume, and one more rise towards 1.6000 is still possible. Key support is at 1.5429, only break below this level could signal completion of the uptrend from 1.4813, then deeper decline to 1.5000 area could be seen.
EURUSD Analysis.
EURUSD’s downward movement from 1.3451 extends to as low as 1.3139. Further decline could be expected, and next target would be at 1.3050 area. Resistance is at 1.3250, only break above this level could signal completion of the downtrend.
USDCHF Analysis.
USDCHF is facing 0.9396 resistance, a break above this level will indicate that the downtrend from 0.9751 (Jul 9 high) had completed at 0.9147 already, then further rise to 0.9500 area could be seen. On the downside, as long as 0.9396 resistance holds, the downtrend from 0.9751 could be expected to resume, and one more fall towards 0.9000 is still possible.
USDJPY Analysis.
USDJPY’s upward movement from 96.82 extends to as high as 99.86. Further rise could be expected after a minor consolidation, and next target would be at 101.00 area. Support is at 98.80, as long as this level holds, the uptrend will continue.
USDCAD Analysis.
USDCAD stays in a trading range between 1.0471 and 1.0568. As long as 1.0450 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.0275, one more rise to 1.0700 area is still possible, only break below 1.0450 could signal completion of the uptrend.
