GBPUSD Analysis.
GBPUSD’s fall from 1.6259 extends to as low as 1.5914. Deeper decline is still possible, and next target would be at 1.5800 area. However, the fall would possibly be consolidation of the uptrend from 1.4813 (Jul 9 low), as long as 1.5800 level holds, the uptrend could be expected to resume, and one more rise towards 1.6500 could be expected. On the downside, a breakdown below 1.5800 will indicate that the uptrend from 1.4813 had completed at 1.6259 already, then the following downward movement could bring price to 1.4500 zone.
EURUSD Analysis.
EURUSD breaks below the lower line of the price channel on 4-hour chart, suggesting that the uptrend from 1.3105 had completed at 1.3646 already. Deeper decline would likely be seen over the next several days, and the target would be at 1.3300 area. Resistance levels are at 1.3575 and 1.3646, only break above these levels could trigger another rise towards 1.4000.
USDCHF Analysis.
USDCHF’s rise from 0.8967 extends to as high as 0.9130. Further rise is still possible, and the target would be at 0.9250 area. Support levels are at 0.9040 and 0.8967, only break below these levels could trigger another fall towards 0.8500.
AUDUSD Analysis.
AUDUSD continues its sideways movement in a range between 0.9280 and 0.9526. The price action in the range is likely consolidation of the uptrend from 0.8847 one more fall to 0.9200 area 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’s upward movement from 1.0182 extends to as high as 1.0419. Further rise is still possible, and next target would be at 1.0450 area. Support is now at 1.0350, only break below this level could signal completion of the uptrend.
USDJPY Analysis.
USDJPY breaks above 98.00 resistance, suggesting that the downtrend from 100.60 had completed at 96.57 already. The pair is now in uptrend, further rise could be expected, and the target would be at 99.50 – 100.00 area. Support is now at 97.50, as long as this level holds, the uptrend will continue.
