AUDUSD Analysis.
AUDUSD remains in short term uptrend from 0.9280. Further rise to test 0.9526 resistance is still possible, a break above this level will signal resumption of the longer term uptrend from 0.8847 (Aug 5 low), then the following upward movement could bring price to 1.0000 zone. Support is now at the upward trend line on 4-hour chart, a clear break below the trend line support will indicate that the upward movement from 0.9280 has completed, then deeper decline to 0.9200 area could be seen.
GBPUSD Analysis.
GBPUSD stays below a downward trend line on 4-hour chart, and remains in short term downtrend from 1.6259. Deeper decline is still possible and the target would be at 1.5800. Key support is at 1.5800, as long as this level holds, the fall from 1.6259 could be treated as consolidation of the longer term uptrend from 1.4813 (Jul 9 low), one more rise towards 1.6500 could be expected after consolidation. Initial resistance is at the trend line, a clear break above the trend line resistance will indicate that the fall from 1.6259 has completed, then further rise to test 1.6259 resistance could be seen.
EURUSD Analysis.
EURUSD is now in downtrend from 1.3646, the rise from 1.3486 is treated as consolidation of the downtrend. Another fall could be expected, and next target would be at 1.3400 area. Key resistance is at 1.3646, only break above this level could trigger another rise towards 1.4000.
USDCHF Analysis.
USDCHF remains in uptrend from 0.8967. Further rise would likely be seen in a couple of days, and next target would be at 0.9200 area. Support levels are at 0.9040 and 0.8967, only break below these levels could trigger another fall towards 0.8500.
USDCAD Analysis.
USDCAD remains in uptrend from 1.0182, the fall from 1.0419 would possibly be consolidation of the uptrend. Key support is at 1.0300, as long as this level holds, the uptrend could be expected to resume, and one more rise towards 1.0500 is still possible. On the downside, a breakdown below 1.0300 level will indicate that the uptrend from 1.0182 had completed at 1.0419 already, then the following downward movement could bring price to 1.0000 zone.
USDJPY Analysis.
USDJPY’s upward movement from 96.57 extends to as high as 98.59. Support is at 97.90, as long as this level holds, the uptrend could be expected to continue, and the target would be at 99.50 – 100.00 area. On the downside, a breakdown below 97.90 support will indicate that correction of the uptrend is underway, then pullback to 97.30 area could be seen.
