EURUSD Analysis.
After breaking above 1.3568 resistance, EURUSD pulls back from 1.3587, suggesting that lengthier consolidation of the uptrend from 1.3105 is underway. Range trading between 1.3462 and 1.3587 would likely be seen in a couple of days. Support is at 1.3462, as long as this level holds, the uptrend could be expected to resume, and one more rise towards 1.3700 is still possible. On the downside, a breakdown below 1.3462 will indicate that the uptrend had completed at 1.3587 already, then the following downward movement could bring price back to 1.3350 zone.
USDCHF Analysis.
USDCHF breaks above the downward trend line on 4-hour chart, suggesting that consolidation of the downtrend from 0.9455 is underway. Range trading between 0.8992 and 0.9137 would likely be seen in a couple of days. Resistance is now at 0.9137, as long as this level holds, the downtrend could be expected to resume, and one more fall towards 0.8500 is still possible. On the upside, a break above 0.9137 will indicate that the downtrend had completed at 0.8992 already, then the following upward movement could bring price to 0.9250 zone.
AUDUSD Analysis.
AUDUSD’s upward movement from 0.9280 extends to as high as 0.9385. Further rise to test 0.9526 resistance could be expected, a break above this level will signal resumption of the uptrend from 0.8892, then the following upward movement could bring price to 1.0000 zone.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5955. As long as 1.6125 support holds, the uptrend could be expected to continue, and next target would be at 1.6400 area. On the downside, a breakdown below 1.6125 support will indicate that lengthier consolidation of the longer term uptrend from 1.4813 (July 9 low) is underway, then deeper decline to 1.6000 area could be seen.
USDCAD Analysis.
USDCAD breaks above 1.0340 resistance, suggesting that the downtrend from 1.0568 had completed at 1.0182 already. Further rally would likely be seen, and next target would be at 1.0400 area. Key support is at 1.0265, only break below this level could trigger another fall towards 1.0000.
USDJPY Analysis.
No changed in our view, USDJPY remains in downtrend from 100.60, the price action from 97.76 is treated as consolidation of the downtrend. Key resistance is at 99.65, as long as this level holds, the downtrend could be expected to resume, and one more fall towards 96.50 is still possible.
