GBPUSD Analysis.
GBPUSD remains in uptrend from 1.4813 (Jul 9 low), the price action from 1.6162 is likely consolidation of the uptrend. 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. On the downside, a breakdown below 1.5850 support will indicate that the uptrend from 1.4813 had completed at 1.6259 already, then the following downward movement could bring price back to 1.4500 zone.
EURUSD Analysis.
EURUSD stays in a upward price channel on 4-hour chart, and remains in uptrend from 1.3105. Support is located at the lower line of the channel, as long as the channel support holds, the uptrend could be expected to continue, and one more rise towards 1.3700 is still possible after consolidation. On the other side, 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 remains in downtrend from 0.9455, the rise from 0.8967 is likely consolidation of the downtrend. Range trading between 0.8967 and 0.9200 would likely be seen over the next several days. Key resistance is at 0.9250, as long as this level holds, the downtrend could be expected to resume, and one more fall towards 0.8500 is still possible.
AUDUSD Analysis.
AUDUSD is facing 0.9526 resistance, as long as this level holds, the price action from 0.9526 could be treated as consolidation of the uptrend from 0.8847 (Aug 5 low), and one more fall to 0.9200 to complete the consolidation is possible. On the upside, a break above 0.9526 resistance will signal resumption of the uptrend, then the following upward movement could bring price to 1.0000 zone.
USDCAD Analysis.
USDCAD continues its upward movement from 1.0182 and the rise extends to as high as 1.0373. Further rise could be expected in a couple of days, and the target would be at 1.0450 area. Key support is now at 1.0290, only break below this level could signal completion of the uptrend.
USDJPY Analysis.
USDJPY remains in downtrend from 100.60. As long as 98.00 resistance 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 resistance will signal completion of the downtrend, then further rise to 99.50 – 100.00 area could be seen.
