GBPUSD Analysis.
GBPUSD failed to break above 1.6259 resistance, suggesting that lengthier consolidation of the uptrend from 1.4813 (Jul 9 low) is underway. Range trading between 1.5894 and 1.6259 would likely be seen in a couple of days. However, as long as 1.5894 support holds, the uptrend could be expected to resume, and one more rise towards 1.6500 is still possible after consolidation. On the downside, a breakdown below 1.5894 support will signal completion of the uptrend from 1.4813, then the following downward movement could bring price to 1.4500 zone.
EURUSD Analysis.
EURUSD remains in uptrend from 1.3473, the fall from 1.3703 is likely consolidation of the uptrend. Another rise could be expected, and next target would be at 1.3800 area. Support is at 1.3580, as long as this level holds, the uptrend will continue.
AUDUSD Analysis.
AUDUSD continues its upward movement from 0.9280, and the rise extends to as high as 0.9679. Initial support is at 0.9600, and the key support is at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.
USDCHF Analysis.
USDCHF is testing 0.8967 support, a breakdown below this level will indicate that the downtrend from 0.9751 (Jul 9 high) has resumed, then the following downward movement could bring price to 0.8700 area. Resistance is at 0.9075, only break above this level will suggest that lengthier consolidation of the downtrend is underway, then range trading between 0.8967 and 0.9177 could be seen.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0419, the rise from 1.0277 could be treated as consolidation of the downtrend. Resistance is at 1.0345, as long as this level holds, the downtrend could be expected to resume, and another fall towards 1.0000 could be seen.
USDJPY Analysis.
USDJPY remains in uptrend from 96.57, the fall from 99.00 is treated as correction of the uptrend. Another fall to 97.30 area to complete to correction would likely be seen. Key support is at 96.57, as long as this level holds, the uptrend could be expected to resume, and one more rise to 100.00 are is still possible.
