AUDUSD Analysis.
AUDUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 0.9280. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9800 area. On the downside, a clear break below the trend line support will indicate that consolidation of the uptrend is underway, then pullback to 0.9600 area to complete the consolidation is possible.
GBPUSD Analysis.
GBPUSD is facing 1.6259 resistance again, a break above this level will indicate that the uptrend from 1.4813 (Jul 9 low) has resumed, then the following upward movement could bring price to 1.6500 zone. Support is at 1.6100, only break below this level will suggest that lengthier consolidation of the uptrend is underway, then the trading range would be between 1.5894 and 1.6259.
EURUSD Analysis.
EURUSD’s upward movement from 1.3473 extends to as high as 1.3792. Support is now at 1.3715, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.3900 area.
USDCHF Analysis.
USDCHF breaks below 0.8967 support, suggesting that the downtrend from 0.9751 (Jul 9 high) has resumed. Further decline would likely be seen, and next target would be at 0.8850 area. Resistance is now at 0.9010, as long as this level holds, the downtrend from 0.9177 will continue.
USDCAD Analysis.
USDCAD continues its downward movement from 1.0419, and the fall extends to as low as 1.0271. Further decline could be expected, and next target would be at 1.0200 area. Resistance is at 1.0330, only break above this level could signal completion of the downtrend.
USDJPY Analysis.
No changed in our view, 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.
