GBPUSD Analysis.
GBPUSD fails to break below 1.5894 and rebounds from 1.5903, suggesting that lengthier sideways movement in the trading range between 1.5894 and 1.6259 is underway. Another rise to re-test 1.6259 resistance would likely be seen, a break above this level will signal resumption of the longer term uptrend from 1.4813 (Jul 9 low), then the target would be at 1.6500 area. On the downside, a breakdown below 1.5894 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 is in downtrend from 1.3832, the rise from 1.3443 is likely consolidation of the downtrend. Resistance is at 1.3590, as long as this level holds, the downtrend could be expected to continue, and next target would be at 1.3200 area. On the upside, a break above 1.3590 resistance will suggest that the downtrend from 1.3832 had completed at 1.3443 already, then another rise towards 1.4000 could be seen.
AUDUSD Analysis.
AUDUSD breaks above 0.9530 resistance, suggesting that the downward movement from 0.9756 had completed at 0.9421 already. Further rise to test 0.9756 resistance would likely be seen over the next several days. Support is at 0.9421, only break below this level could trigger another fall towards 0.9000.
USDJPY Analysis.
USDJPY remains in short term uptrend from 96.94, further rise to test 99.00 resistance would likely be seen, a break above this level will signal resumption of the longer term uptrend from 96.57, then next target would be at 100.00 area. Support is at 97.80, only break below this level will suggest that the upward movement from 96.94 has completed, then the following downward movement could bring price back to 96.00 zone.
USDCHF Analysis.
USDCHF is testing 0.9177 resistance, a break of this level will signal completion of the downtrend from 0.9751 (Jul 9 high), then the following upward movement could bring price to 1.0500 area. However, as long as 0.9177 resistance holds, the rise from 0.8890 could be treated as consolidation of the downtrend from 0.9751, one more fall towards 0.8500 is still possible.
USDCAD Analysis.
USDCAD is in uptrend from 1.0182 (Sep 19 low), the fall from 1.0496 is likely consolidation of the uptrend. Another fall to complete the consolidation would likely be seen, and the target would be at the lower line of the price channel on 4-hour chart.
