EURUSD Analysis.
EURUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 1.3105. As long as the channel support holds, the price action from 1.3568 could be treated as consolidation of the uptrend, and one more rise towards 1.3700 is still possible after consolidation. On the downside, a clear break below the channel support will indicate that the uptrend from 1.3105 had completed at 1.3646 already, then the following downward movement could bring price to 1.3300 zone.
USDCHF Analysis.
USDCHF is in consolidation of the downtrend from 1.9455. Range trading between 0.8967 and 0.9200 would likely be seen over the next several days. Support is at 0.8967, only break below this level could trigger another fall towards 0.8500.
AUDUSD Analysis.
AUDUSD remains in uptrend from 0.8847 (Aug 5 low), the price action from 0.9526 could be treated as consolidation of the uptrend. As long as 0.9526 resistance holds, the consolidation could be expected to continue, and one more fall to 0.9200 area would likely be seen.
GBPUSD Analysis.
GBPUSD is in consolidation of the uptrend from 1.4813 (Jul 9 low). Range trading between 1.5900 and 1.6259 would likely be seen in a couple of days. Key support is at 1.5850, as long as this level holds, the uptrend could be expected to resume, and one more rise towards 1.6500 is still possible.
USDCAD Analysis.
No changed in our view, USDCAD remains in uptrend from 1.0182, the fall from 1.0356 could be treated as consolidation of the uptrend. As long as 1.0265 support holds, the uptrend could be expected to resume, and one more rise to 1.0450 area is still possible. On the other side, a breakdown below 1.0265 support will suggest that the upward movement from 1.0182 had completed at 1.0356 already, then the following downward movement could bring price to 1.0000 zone.
USDJPY Analysis.
USDJPY’s downward movement from 100.60 extends to as low as 96.57. Key resistance is at 98.00, as long as this level holds, the downtrend could be expected to continue, and next target would be at 96.25 area. On the upside, a break above 98.00 will indicate that the downtrend has completed, then the following upward movement could bring price to 99.50 – 100.00 area.
