AUDUSD Analysis.
AUDUSD is facing the resistance of the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and one more fall towards 0.9000 is still possible. One the upside, a clear break above the channel resistance will suggest that the downtrend from 0.9756 had completed at 0.9269 already, then the following upward movement could bring price to 1.0000 zone.
GBPUSD Analysis.
GBPUSD’s rise from 1.5854 extends to as high as 1.6134. Further rise to test 1.6259 resistance is possible, a break above this level will signal resumption of the uptrend from 1.4813 (Jul 9 low), then the target would be at 1.7000 area. On the other side, a breakdown below 1.5854 support will confirm 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 continues its upward movement from 1.3296, and the rise extends to as high as 1.3505. Support is at 1.3415, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.3600 area. On the downside, a breakdown below 1.3415 support will indicate that the uptrend from 1.3296 has completed, then another fall towards 1.3000 could be seen.
USDJPY Analysis.
USDJPY’s upward movement from 96.94 extends to as high as 100.43. Support is now at 99.50, as long as this level holds, the uptrend could be expected to continue, and next target would be at 101.00 area. On the downside, a breakdown below 99.50 support will indicate that the upward move from 96.94 has completed, then deeper decline to 97.00 area could be seen.
USDCHF Analysis.
USDCHF remains in downtrend from 0.9249, the rise from 0.9124 could be treated as consolidation of the downtrend. Resistance is at 0.9200, as long as this level holds, the downtrend could be expected to resume, and next target would be at 0.9050 area, only break above 0.9200 resistance could trigger another rise towards 0.9500.
USDCAD Analysis.
No changed in our view, USDCAD remains in uptrend from 1.0182 (Sep 19 low), the price action from 1.0496 is likely consolidation of the uptrend. Pullback to the lower line of the price channel on 4-hour chart to complete the consolidation would likely be seen.
