EURUSD Analysis.
EURUSD continues its downward movement from 1.3451, and the fall extends to as low as 1.3111. Resistance is located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.3050 area. On the upside, a clear break above the channel resistance will will suggest that the downtrend from 1.3451 has completed, then the following upward movement could bring price back to 1.3500 zone.
AUDUSD Analysis.
AUDUSD continues its sideways movement in a range between 0.8847 and 0.9317. Key resistance is at 0.9317, 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. On the upside, a break above 0.9317 will indicate that the downtrend from 1.0582 had completed at 0.8847 already, then the following upward movement could bring price to 1.0000 zone.
GBPUSD Analysis.
GBPUSD continues its short term uptrend from 1.5429, and the rise extends to as high as 1.5667. Further rise to test 1.5717 resistance is possible, a break above this level will signal resumption of the longer term uptrend from 1.4813 (Jul 9 low), then next target would be at 1.6000 area. Key support is at 1.5429, only break below this level could signal completion of the uptrend.
USDCHF Analysis.
USDCHF breaks above 0.9396 resistance and reaches as high as 0.9454, suggesting that the downtrend from 0.9751 (Jul 9 high) had completed at 0.9147 already. Further rise could be expected, and the target would be at 0.9500 area. Initial support is at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend from 0.9147 will continue.
USDJPY Analysis.
USDJPY’s upward movement from 96.82 extends to as high as 100.22. Further rise could be expected, and next target would be at 101.00 area. Support is at 99.00, only break below this level could signal completion of the uptrend.
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.
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